The euro’s recovery proved to be
The European Central Bank may keep the main refinancing rate at 1 percent to help the struggling European economies, causing speculation that the euro will continue its decline against the dollar as the Federal Reserve is going to raise the interest rates. Ireland, Greece and Spain have worst budget deficits: 14.3 percent, 13.6 percent and 11.2 percent of gross domestic product respectively, compared to the EU target of 3 percent.
The rescue plan may bring some
EUR/USD traded at 1.2726 as of 17:39 GMT today after opening at 1.2784. EUR/JPY traded near 118.35 down from the opening rate of 119.26. EUR/CAD traded at about 1.2945.
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