Excerpt from: Forex Commentary
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| June 07, 2010 | | Euro struggles in forex trading | The euro continues to struggle in forex trading on the currency market. The euro began a slide late last week with news out of Hungary. However, the euro has found some degree of stability with the recent G20 meeting.
However, there are still plenty of obstacles for the euro to overcome in currency trading. First of all, no real action was decided on in the meeting. Additionally, the ECB is not likely to offer any help to the ailing euro zone in the form of monetary easing when it meets.
The bottom line, reports Kathy Lien in FX360, is that the world doesn't view euro zone problems as global issues yet:
This implies that the euro is not at emergency levels and the speed of
the decline is not reckless enough to raise red flags for policymakers.
For the time being, the world is treating this as a euro centric
problem that needs to be resolved within its own borders.
| Topic Tags: currency trading, euro currency trading, euro forex trading, forex trading, G20, U.S. dollar | |
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