The euro weakened today as the debt crisis undermines the economy of the European Union, while the U.S. economy shows the signs of the accelerating recovery, lessening the impact of the European woes on the global markets.
The good news emerged from the U.S. labor market as the initial unemployment claims decreased by 10,000 to 453,000 in the week ending May 29 from 463,000 the week before. The economic activity in the
The European crisis continues and there are no signs that it’s going to end anytime soon. The result of the EU troubles is the growing concerns for the Europe’s economy and the banking system, which are plummeting the shared 16-nation currency.
EUR/USD traded near 1.2159 as of 21:17 GMT today after opening at 1.2249. EUR/CHF traded at about 1.4061, falling from the opening price of 1.4142.
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