Lets discuss the Euro's performance as single currency. The Euro ended this week with a negative performance versus the U.S. dollar and the Japanese yen. This week Swiss franc also gained versus the euro. Euro is at record low position versus Yen because of the situation in Greece, Portugal, Spain and Italy. The euro hit the one year record low versus the Japanese yen.
In 2009 US dollar was at low position and now in 2010 Euro getting at low position. I just hope Euro don't get that much deficit in 2010 as US dollar faced in 2009.
The complications regarding Eurozone members’ growing deficit, currency traders opted to leave massively assets in the region towards other markets. This news is in air that traders have sold off the euro due to the expected upcoming debt crises.
Today on Friday EUR/USD rate is 1.3652 while on Thursday its rate was 1.3733. EUR/JPY traded at 122.02 on Friday while on Thursday it was traded at 122.80.
Sunday, February 7, 2010
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