The euro continued to rise against the US dollar on the speculation that the Asian countries will aid the Eurozone, but the currency tends to decline as many traders think that it’s a temporary solution at best.
The investors’ sentiment about the euro improved slightly after China and Japan announced their plans to buy the European debt. Additional yield investors demand to hold Irish, Italian, Portuguese and Spanish bonds instead of German bunds decreased. The rally of the shared European currency is considered to be
EUR/USD traded near it opening level of 1.2973 as of 11:54 GMT after rising to 1.3045. EUR/JPY traded at 107.99, also near the opening price, after it climbed to 108.36 earlier.
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