The euro started another week losing versus its main rivals as traders’ confidence towards investments in the region continued to fall, considering that no concrete solution was proposed to end the fiscal crisis affecting several countries using the single currency.
Apart from the usual budget crisis talk with which most of the forex traders are already used to, reports to be released this week from the main Eurozone trading partners are likely to boost attractiveness for these countries’ currencies, specially in the case of the U.S., which according to analysts will post positive durable good orders figures, as well as good real state data since the housing market recovers in North America. The yen has been also one of the currencies profiting from the euro’s decadence, as its refuge currency profile is attracting traders to invest in Japan.
Virtually all currencies, lower and
EUR/USD traded at 1.3607 as of 03:21 GMT from a previous intraday rate 1.3645. EUR/JPY tumbled to 123.76 from 125.12.
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