- 22 February 2012
Despite greek bailout, EUR resumes bearishness
The euro staged a downward reversal during yesterday's trading session, despite the approval of a Greek bailout package that many hoped would boost riskier currencies. The EUR/USD once again fell below the 1.3200 level during European trading before staging a slight correction and stabilizing around the 1.3230 level. Against the Japanese yen, the common currency fell some 80 pips before bouncing back to the 105.40 level.
- 20 February 2012
All eyes on euro-zone meeting today
Investor optimism that Greece could finally receive a bailout package today resulted in modest risk taking during Friday's trading session. The news led to the euro seeing gains against its safe-haven currency rivals, including the US dollar and Japanese yen. The EUR/USD was able to close out the week at 1.3143 after dropping below the psychologically significant 1.3000 level and hitting a three-week low. The EUR/JPY closed out Friday's session at 104.57, up over 100 pips from the day's low of 103.45.
- 16 February 2012
Risk aversion turns EUR bearish
The euro tumbled against its safe-haven currency rivals yesterday, following news that approval for a Greek bailout package has been delayed. The news caused investors to abandon the euro in favor of safer assets, such as the US dollar and Japanese yen. Earlier pledges by China to keep on buying European debt were largely ignored following the Greek news. The EUR/USD fell below the psychologically significant 1.3100 level, while against the JPY, the common currency dropped over 100 pips during the afternoon session.
- 21 February 2012
EUR starts week off bullish
The euro extended last Friday's bullish momentum throughout the day yesterday, as investors reverted to riskier assets ahead of the approval of the Greek bailout package. Following its approval, the euro continued advancing against safe-haven currencies like the US dollar and Japanese yen. While the EUR/USD capped its gains just below the 1.3300 level, the EUR/JPY continued to move throughout the night. The pair is currently trading just below 106.00, up over 100 pips since the Greek deal was announced.
- 17 February 2012
EUR continues to fall amid negative greek news
The euro continued to fall against the US dollar throughout the trading day yesterday, as uncertainties about whether Greece would receive a much needed bailout package caused investors to revert back to safe-haven funds. The EUR/USD dropped as low as 1.2974, a three-week low, before staging a slight upward correction. Against the JPY, the common currency fell close to 60 pips before correcting itself during the US trading session.
- 15 February 2012
Euro-zone meeting may lead to heavy trading day
The euro tumbled against virtually all of its main currency rivals yesterday, following the credit downgrade of several EU countries. While the move by Moody's Investors Service was not unexpected, investors still responded to the news by reverting back to safe-haven assets. The EUR/USD dropped as low as 1.3126, while against the Japanese yen, the common currency fell to 101.81.