The two most important currencies in the world, the Euro and the US Dollar are now faced with quite a difficult period which causes them to fall against most of their major counterparts. The Euro continues to be influenced by the European sovereign debt crisis and its effects, while the US Dollar is falling on the growth of the risk appetite.
The Euro fell as much as hitting the 1.3400 level against the US Dollar, rally which the currency did not manage to maintain, despite the optimism related to the results of the Italian bond auction. This has caused the EUR/USD to fall behind the 1.3400 level, which means that the pair is likely to end the week at a lower level than the one it had started with. This means that all the gains that the Euro has managed to score during the very brief period of optimism have actually been rapidly erased. The optimism was the Read more »