The Euro fell away from a two-month high today (February 10th) after forex traders reacted to the decision from European finance ministers to withhold a bailout package for Greece.
Europe's common currency dropped 0.1 per cent to $1.3271 this morning, paring its weekly advance to 0.8 per cent. It reached a two-month high of $1.3322 yesterday as optimism over the Greek finance deal reached its apex.
As stocks fell across Europe the dollar strengthened against all but one of its 16 peers, with market demand for safe assets rising, Bloomberg noted.
Geoffrey Kendrick, head of European currency strategy at Nomura International in London, told the news provider the fact that the Greek deal has not been finalized is spooking investors to a degree.
"We're seeing the euro paring its gains for the week and I would expect it to come off a bit further today, maybe to below $1.32," Mr Kendrick predicted.
The euro traded higher yesterday as the prospect to an end of the debate with Greece buoyed the market, Bloomberg noted.
Europe's common currency dropped 0.1 per cent to $1.3271 this morning, paring its weekly advance to 0.8 per cent. It reached a two-month high of $1.3322 yesterday as optimism over the Greek finance deal reached its apex.
As stocks fell across Europe the dollar strengthened against all but one of its 16 peers, with market demand for safe assets rising, Bloomberg noted.
Geoffrey Kendrick, head of European currency strategy at Nomura International in London, told the news provider the fact that the Greek deal has not been finalized is spooking investors to a degree.
"We're seeing the euro paring its gains for the week and I would expect it to come off a bit further today, maybe to below $1.32," Mr Kendrick predicted.
The euro traded higher yesterday as the prospect to an end of the debate with Greece buoyed the market, Bloomberg noted.
1 Comment
Interesting!!
Posted on 12 February 2012 at 19:13