Euro Ends Session Almost Flat After Volatile Trading

The euro ended Friday virtually flat against the US dollar and the Japanese yen while against the Great Britain pound the currency closed below the opening level but trimmed most of the daily loss.

Friday’s trading was rather volatile as currencies had trouble establishing a clear-cut trend. As a nice example of that, the euro was falling in the first half of the trading session, bounced later but retreated closer to the opening level afterwards.

The reason for such erratic behavior was the shifting market sentiment that followed events of the day. Currencies, including the euro, gained on the dollar after the weak economic data from the United States but fell back after the speech of Federal Reserve Chairperson Janet Yellen.

As for domestic fundamentals for the shared currency of the eurozone, Greece remains a wild card though there were reports that the country’s government presented a more comprehensive list of economic reforms that can allow the nation to receive the much-needed bailout money.

EUR/USD at 1.0885, basically at the opening level, after rising to the high of 1.0948 and falling to the low of 1.0800 during the trading session. EUR/JPY ended the session at 129.75, very close to the opening of 129.68. EUR/GBP opened at 0.7325, fell to the daily low of 0.7265 but bounced to close at 0.7316.

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