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|  | | October 06, 2008 | | Disagreement over credit crisis sinks euro in currency trading | The euro is plunging dramatically in forex trading
on the currency market today. European leaders met over the weekend to
try and determine how to best deal with the credit and financial crisis
sweeping world markets. However, the leaders could not agree on the
best course of action, and as a result of uncertainty, the euro is at a
14-month low in currency trading against the U.S. dollar.
Indeed, the selling pressure on the euro has put it below $1.36.
One of the biggest problems involved gaps from the plan in Germany,
which was meant to bailout Hypo Real Estate. Liquidity has not been
eased by the bailout, and there is now strong talk that the ECB may have to cut interest rates in the near future -- after holding them steady earlier this month. | Topic Tags: credit crisis, currency market, currency trading, ECB rates, euro forex trading, forex trading, forex trading currency market | |
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