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Sunday, July 18, 2010

Euro Strengthens This Week a Bit

The euro moved up and down this week as the investor sentiment improved after Greece and Spain auctioned their debts, but the gains of the currency were restrained by the concern for the global growth, fueled by the bad economic indicators of the U.S. economy.

The euro dropped against the U.S. dollar on Monday, then was rising for the three day, and on Friday slightly fell again. The moves versus the Japanese yen were rather volatile as every day of losses were succeeded by day of gains; as a result, EUR/JPY currency pair closed this week near its opening level. The 16-nation European currency was rising for almost entire week against the Australian and Canadian currencies.

There is significant weakness remains in the euro. But as the focus of concerns shifts to the U.S., the shared Europe’s currency may rise higher. Of course, totally opposite may happen and the concerns, caused by the U.S., may drag the euro down.

EUR/USD closed at 1.2926 after opening at 1.2641 and reaching the highest level in the week of 1.2641. EUR/JPY closed at 112.01 after it opened at 112.10.

If you want to comment on the Euro’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Euro:

Euro Weakens with Less than Expected Economic Growth (2010-07-14)Can European Economy Return Strength to Euro? (2010-07-13)Euro Drops vs. Dollar on Debt Crisis Concerns (2010-07-12)Euro Rises on Growth Outlook (2010-07-08)Euro Recovers Slightly as Equities Rise (2010-07-06)
This entry was postedon Saturday, July 17th, 2010 at 8:59 pmand is filed under Euro.You can follow any responses to this entry through the RSS 2.0 feed.You can skip to the end and leave a response. Pinging is currently not allowed.

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