The euro rebounded as German Chancellor Angela Merkel and French President Nicolas Sarkozy meet today to discuss measures for rescuing Europe from its troubles.
Merkel and Sarkozy meet today in Berlin to discuss additional rules to foster tighter fiscal discipline among the countries of the European Union. Traders aren’t willing to continue the sell-off of the euro before the outcome of the meeting will become clear. There were several economic reports today that added strength to the currency of the eurozone, including the expanding German trade surplus.
EUR/USD advanced from 1.2693 to 1.2747 and EUR/JPY climbed from 97.62 to 97.96 as of 13:31 GMT today.
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