Euro Moves above 1.30 against US Dollar

Euro in forex trading

Euro is above the 1.30 level against the US dollar in forex trading on the currency market today. Indeed, risk appetite has returned to the FX market, after the euro has had some disappointments recently.

Now the euro has bounced above a psychologically important level, and there are hopes that the Greek debt situation will soon be resolved, and that the eurozone will be able to move forward.

An EU embargo on Iranian oil hasn’t caused the euro to falter so far. However, there are some weaknesses that could result in a lower euro moving forward. The Greek deal is far from done, and there are other sovereign debt worries. Plus, unless the eurozone economy shows some solid improvement, the euro could easily sink lower. 

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