The exchange rate euro fell against the dollar strengthening

Euro fell against the U.S. dollar

In brief: Euro entered the negative trend in relation to the American currency. Euro dropped in price slightly, but the trend could get worse - the expert believes.

The exchange rate euro on Wednesday failed to keep positive momentum against the dollar and continued to lose in price to the U.S. currency amid concern about the inability to survive in the multibillion-dollar stabilization fund to solve the fundamental problems of the region’s economy.

The single currency of 16 countries in Europe on Wednesday has risen to 1.2678 dollars per euro against 1.2683 dollars per euro. Earlier in the trading of the euro against the dollar rose to 1.2695 dollars per euro against the background of strong GDP statistics for the euro zone and the statements of European Central Bank head Jean-Claude Trichet about the impossibility of the inclusion of “printing press” to prevent the sovereign debt crises in Europe. Meanwhile, the dollar also strengthened the position of the Japanese yen – up to 93 yen per dollar against 92.76 yen per dollar. Total value of the dollar to a basket of six currencies of countries – major U.S. trading partners increased by 0,10% – up 84.56 points.

According to the Economist Market Lloyds TSB Kenneth Bru, commented on the situation on the currency market news agency Bloomberg, the euro “is unlikely to receive a strong impetus” from the stabilization fund created in Europe, and traders can continue to sell the euro amid fears about the fact that stringent anti-crisis measures aimed at reducing budget deficits in the EU could undermine the economic recovery in the region. According to analysts, the euro against the dollar may already be for a few days to descend to the level of 1.25 dollars per euro.

Ukrainian Globalist
2010-05-12 15:08, Currency news.

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