Carry trade unwinding by investors pushed the Aussie lower in Asian trading today, a continuing consequence of last week’s risk averse tendencies.
Earlier this week, the Euro slipped to a 4-year trough versus the U.S. Dollar on continuing worries that economies in the Euro-zone will have difficulty recovering from fiscal woes.
Profit taking investors sold off their holdings in the common currency Euro, taking advantage of the previous session’s bounce when the Euro traded up off a multi-year low.
Yesterday, German officials announced a plan to prohibit naked short selling of shares in Euro-denominated government bonds and swaps, and some 10 German financial institutions, considered by many to be high-risk transactions. Subsequently, the common currency Euro slipped versus the safe-haven greenback to its lowest price in 4 years. As reported at 2:29 p.m. (JST) in Tokyo, the Euro was trading against the U.S. Dollar at $1.2193, a loss of .1%; earlier, on the EBS trading platform, it had traded at $1.2143, the lowest level in more than 4 years. This year alone, the Euro has lost nearly 15% of its value versus the U.S. Dollar.
GTL Trading DMCC has announced its participation in the 6th Middle East Forex Exhibition & Conference, which will be held on the 20th & 21st of May at the Habtoor Grand Hotel – Beirut Lebanon
Despite rebounding off a 4-year low, the single currency Euro continues to spiral downwards on investor fears
Euro-zone fiscal concerns are prompting market players to sell their holdings in the common currency Euro, which dropped to a 4-year trough in Asian trading today.
The Euro’s downtrend continues, and the beleaguered single currency is approaching a 14-month trough against the U.S. Dollar on investor concerns over the pace of the Euro-zone’s economic recovery.
The common currency Euro gained versus the U.S. Dollar in Asian trading today, trading at $1.2667 up slightly from yesterday’s late trade in New York of $1.2627
The Pound Sterling trimmed earlier gains versus the U.S. Dollar, following the installment of a new coalition government in the United Kingdom.
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Returning some of yesterday’s gains, the common currency Euro slipped in Asian trading today with investors continuing to have doubts that the rescue package for Greece can be successfully implemented.
Investor worries appear to be temporarily assuaged as regards the rescue package for the debt-burdened Greek nation and hedge fund buyers sought the common currency Euro, driving the price up sharply in Asian trading today
The common currency Euro dropped to a new 14-month trough versus the U.S. Dollar
Violence and the news of several deaths from rioting over the implementation of austerity measures in Greece have investors speculating that the Greek nation may be on the verge of bankruptcy