Euro Treads In Troubled Water
Traders’ bias against the Euro is causing the currency from fully leading the Dollar in Tokyo’s trading yesterday afternoon. The bias arose from the recent sharp fall of the Euro that were caused by weak economic forecasts, political uncertainty and the widening gap in yields between the US and the eurozone.
Because of this considerable uncertainty on the eurozone economy, the Euro suffered a flurry of bids from traders who played near the 1.20usd mark. Many traders expect that the Euro will fall below this point and that the currency is rather overvalued.
The negative outlook of traders against the Euro paved some bright prospects for the Dollar, on the other hand, as dealers expect that the latter will be able to rebound soon. In fact, the Dollar is actually gaining strength and has achieved its new 9-month high in New York yesterday. The Dollar not only rose against the Euro but also rose against the Swiss Franc.
Highlights of Euro Firmer VS Dollar In Tokyo Trade But Weak Bias Stays, Forbes.com and Dollar Rises Again VS Euro In New York Despite Weak Data, Touching New 9-month High, CasperStarTribune.net
Because of this considerable uncertainty on the eurozone economy, the Euro suffered a flurry of bids from traders who played near the 1.20usd mark. Many traders expect that the Euro will fall below this point and that the currency is rather overvalued.
The negative outlook of traders against the Euro paved some bright prospects for the Dollar, on the other hand, as dealers expect that the latter will be able to rebound soon. In fact, the Dollar is actually gaining strength and has achieved its new 9-month high in New York yesterday. The Dollar not only rose against the Euro but also rose against the Swiss Franc.
Highlights of Euro Firmer VS Dollar In Tokyo Trade But Weak Bias Stays, Forbes.com and Dollar Rises Again VS Euro In New York Despite Weak Data, Touching New 9-month High, CasperStarTribune.net
