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| Unstable Currencies Experience Drop Posted: 05 Mar 2012 08:21 AM PST
In addition to the euro’s weakness this morning we’ve also seen weakness from other riskier currencies. The aussie found itself losing ground to the greenback at a rate of 0.5% and is currently trading at $1.068. Additionally, the New Zealand dollar lost significant ground on the American dollar. As of now, the kiwi is trading at $0.8233 which marks a 0.8% drop from last week’s mark. The drop in less stable currencies could very well be the by-product of market uncertainty surrounding the euro. As the euro loses investor confidence, the USD sees renewed strength. Read more forex news on our forex blog |
| Posted: 05 Mar 2012 05:54 AM PST
Following a week of ups and downs across the board, the euro is again finding itself in a downward slide. This morning the EUR/USD was traded at $1.3168, marking a 0.25% drop from the previous trading day. The decision last week by the ECB to inject capital into the euro-zone banking system had a positive impact, however, it is becoming clear that these impacts have since faded. Already investor confidence in the euro is showing signs of cracking and worries over the Greek debt crisis persist. Analysts are alerting traders of the possibility that the euro will continue to weaken against the dollar. Read more forex news on our forex blog. |
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