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Excerpt from:  GFT News
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September 11, 2008

Euro Breaks Below $1.40 in Forex Trading

Currency trading with the euro
Euro in forex trading
The euro has broken through the $1.40 level in forex trading on the currency market. The move came after the Reserve Bank of New Zealand cut it its rate by 0.5 percentage points -- twice the expected cut.

However, there are other reasons that the euro is struggling in forex trading, reports Kathy Lien:
  1. Falling oil prices.
  2. Eurozone growth estimates have been cut.
  3. Risk aversion.
With eurozone economy slowing, and many in the U.S. optimistic that the worst could be over, it is no surprise that dollar weakness against the euro in forex trading is being replaced by strength.
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Topic Tags:  currency trading, currency trading euro, euro $1.40, euro forex trading, forex trading, Kathy Lien, New Zealand cut rate
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