Euro Manages to Head Higher, Even After Downgrades

Euro in forex trading

Euro is heading higher in forex trading today, gaining even after a number of downgrades in the eurozone. Nine eurozone countries, including France, were downgraded late Friday night, after the close of the markets.

However, rumors of such a move have been persisting for weeks, so the downgrades might not have had the same effect as an unexpected downgrade.

Additionally, volume has been thin in general today with US markets closed for a holiday. The result has been a euro that has managed to remain steady against the US dollar and hold on to some fresh gains following last week’s punishment.

The gains might not last, though. There are concerns about what’s next for the eurozone, and many expect that the euro will head lower. 

See Also

• Economic News and the Euro
  Euro in forex trading