Today, the euro managed to rise against the US dollar and against other important currencies after the Spain reports considered requesting a line of credit after the credit line from the bailout fund of Europe. The currency climbed to $1.2973 in Tokyo and up to $1.2953 in North America.
The European Council President Herman Van Rompuy has created a plan in order to improve the situation in the euro zone. Gabriele Steinhauser explains how to euro zone plan isn’t have and how it can put the neighboring on a serious edge. The Financial Times stated the fact that the country was prepared to make a formal request, but the announcement was delayed due to the fact that it could affect other euro-zone countries such as Italy.
Michael Turner, the currency strategist at RBC Capital Markets stated the fact that if the story is true and the timing is right, the euro currency can gain further support. Also, Stan Read more »