The euro has just touched a new record low for 2010 versus the greenback and the yen on speculations that Greece will suffer its first credit downgrade this year, which would follow the two previously suffered last year as the southern European nation started to agonize with its growing budget deficits.
The Japanese yen, known as the safest bet in forex markets during times of uncertainty, profited today from negative releases in both Europe and North America, allowing the Asian refuge currency to post the sharpest gains versus currencies tied to growth.
The euro started another week losing versus its main rivals as traders’ confidence towards investments in the region continued to fall, considering that no concrete solution was proposed to end the fiscal crisis affecting several countries using the single currency.
The euro ended another week losing versus most of the 16 main trading currencies as a concrete rescue plan for several Eurozone members budget crisis hasn’t been proposed by government officials, bringing pessimism and declining confidence among traders to invest in the region.
The euro is going to finish another week posting losses versus most of the 16 main traded currencies after GDP figures published today for the European Union showed
The euro’s advance initiated by hopes that the EU would help Greece to end its fiscal crisis ended today after speculations that the topic will not be brought in the bloc’s summit tomorrow, declining confidence among traders that the Greek budget deficit’s pessimistic scenario is close to an end.
The euro rallied significantly versus currencies of its main trading partners today on speculations that the European Union will help Greece to end its financial crisis, affecting the single currency outlook in
The euro remained trading near 2010 record lows reached last week as the fiscal health of several Eurozone member countries is putting the single currency under pressure before an ECB monthly bulletin to be released on Thursday this week.
The euro ended this week posting a weekly drop versus most of the main currencies as the financial situation in several Eurozone member countries is damping demand for the single currency, after a sense of instability became predominant in the economic bloc.
After losing versus most of the main traded currencies during last week’s session, the euro rebounded today as stocks surged globally, renewing confidence for
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