Euro is getting a little help today, thanks to low volume on the Forex market, and a bit of profit taking at the end of a week that saw a precipitous drop to the 19-nation currency.
Right now, there is a low volume in trading today, with the Easter holiday coming up. Additionally, euro is getting some help from the fact that there are indications that US jobs data isn’t going to be as positive as expected. This is raising expectations that the Federal Reserve will continue to put off an interest rate hike.
Also helping the euro today is a little profit taking as Forex traders take advantage of slight gains after this week’s earlier drop. With Greece submitting new guidelines and warning of a eurozone exit, and some thoughts turning toward Italy as a potential problem, the euro has had a rough week. The 19-nation currency is still struggling, but it is a little higher against its major counterparts today. However, today’s highs are still quite low.
At 14:13 GMT EUR/USD is up to 1.0998 from the open at 1.0880. EUR/GBP is also a little higher today, gaining to 0.7373 from the open at 0.7338. EUR/JPY is up to 130.7970 from the open at 130.2580. EUR/CHF is up to 1.0452 from the open at 1.0441.
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