The euro was steady today and even attempted to rally versus the US dollar. The currency sank yesterday against safe currencies after poor macroeconomic data from China and the United States spurred risk aversion on the Forex market.

Euro plunged in value to start the week, thanks in large part to the latest banking crisis, located in Cyprus. An unprecedented bank tax caused consternation over the weekend, and renewed fears about banking problems and bailout prospects. However, announced flexibility from eurozone leaders is supporting the euro right now.

Euro has slipped into negative territory today against the US dollar as earlier risk appetite all but evaporates. There is little support the euro right now, and the US dollar is gaining the upper hand as a result.

Euro is a little lower right now, but the 17-nation currency has been paring some of its earlier losses. Euro is struggling against the US dollar today, even though the news should ostensibly be helping the 17-nation currency.

Even though the European Central Bank kept rates on hold for now, there are still concerns about the future. With the eurozone economy moving sluggishly, and the sovereign debt saga far from over, there are worries that the ECB will have no choice but to cut rates in the future.

The euro climbed against the US dollar today on optimism for the Greek bond-buyback program and the macroeconomic data, which was better than expected. At the same time, the shared 17-nation currency fell versus the Japanese yen.

Euro is heading higher today, getting a little help from general risk appetite, as well as from the latest comments made by German Chancellor Angela Merkel about possibilities for Greece going forward.

Even though there is plenty of disappointing economic news in the eurozone, the euro is managing to head higher today. The main driver is end of the month flows, but there is also a little bit of support from the recently approved Greek debt deal.

Once again, optimism is creeping back into the markets, and Forex traders are feeling a little better about what might be coming. Euro is heading higher as risk appetite returns on better news and improved expectations.

Even though eurozone leaders have agreed to a Greek deal, problems remain in the wider eurozone. With focus returning to the long-term for the entire currency region, the euro is heading lower right now.