In a subdued trading session as a result of holidays in both U.S. and U.K. markets, the single currency Euro moved higher versus the U.S. Dollar; as reported at 3:13 p.m.
As investors square their holdings in advance of the month’s end, the common currency Euro slipped against the greenback, trimming gains made in yesterday’s trading session.
Following last week’s narrow miss of a 4-year low versus the U.S. Dollar, the common currency Euro saw slight gains in Asian trading today.
The common currency Euro continues to hold close to a 4-year trough versus the U.S. Dollar; it also approaches an 8½-year low against the Japanese Yen on renewed investor worries about the stability and health of the banking sector in the Euro-zone nations.
The high yielding, high risk Aussie extended yesterday’s losses in Asian trading today.
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.
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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.