EUR/USD Gains in Currency Trading
The euro tanked last week in forex trading, but most of those losses are being overcome this week. EUR/USD is gaining in currency trading on the FX market right. A great deal of that improvement is due to efforts by the European Union to help countries with sovereign debt issues.
Announcements of plans to keep euro zone countries suffering from sovereign debt problems have been made, and that is helping forex traders breathe a sigh of relief. Additionally, the fact that U.S. jobless claims are on the rise again is helping the euro in forex trading. Also not helping the U.S. dollar: A warning by Moody’s of a possible credit rating cut.
For now, it appears that a euro recovery is on the way. However, another sovereign debt crisis in Europe could once again send EUR/USD plunging. Sterling and Aussie are also gaining against the U.S. dollar.
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