Disagreement over credit crisis sinks euro in currency tradingThe euro is plunging dramatically in forex trading on the currency market today. European leaders met over the weekend to try and determine how to best deal with the credit and financial crisis sweeping world markets. However, the leaders could not agree on the best course of action, and as a result of uncertainty, the euro is at a 14-month low in currency trading against the U.S. dollar.
Indeed, the selling pressure on the euro has put it below $1.36. One of the biggest problems involved gaps from the plan in Germany, which was meant to bailout Hypo Real Estate. Liquidity has not been eased by the bailout, and there is now strong talk that the ECB may have to cut interest rates in the near future -- after holding them steady earlier this month.
Indeed, the selling pressure on the euro has put it below $1.36. One of the biggest problems involved gaps from the plan in Germany, which was meant to bailout Hypo Real Estate. Liquidity has not been eased by the bailout, and there is now strong talk that the ECB may have to cut interest rates in the near future -- after holding them steady earlier this month.
See Also
- More on the Euro in Forex Trading
Credit crisis and the euro - Currency Trading with the Euro
Forex trading on the currency market
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Monday, October 6th, 2008 at 8:17 am
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