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
The euro profited from a less risk averse scenario today as stocks and commodities witnessed an advance on their prices as investors bet on the economic recovery as some countries consider lifting stimulus created during the worst moments of the global slump to revive the economy. A positive report showing that manufacturing in the Eurozone beat forecasts also allowed the bloc’s single currency to advance versus the yen, as appeal for the refuge provided by assets in Japan declined on renewed confidence globally.
Analysts consider today’s gains for the euro as a mix of a correction movement after so many days falling and risk aversion giving a breather to investors, as some of them start to believe that the economic recovery will accelerate. The euro sentiment continues very negative, despite today’s winning trend.
EUR/USD traded at 1.3914 as of 19:04 GMT from an opening rate of 1.3858. EUR/JPY touched 126.22 from 125.01.
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