Euro Tries to Recover Some Ground in Forex Trading

Currency trading with the euro

Euro dropped below the 1.2700 level earlier in trading. However, euro is back above that level, and trying to make up some lost ground.

Helping the euro are comments from German chancellor Angela Merkel and ECB president Mario Draghi. The two talked about how they can help shore up the eurozone, and Merkel even said that Germany might be able to help by adding a little capital in the name of market stability.

While this has helped move the euro off its lows, it has done little in terms of sparking a real rally in the euro. For now, equities are lower, and risk aversion is setting in. Chances are that the US dollar will remain mostly in demand for now.

See Also

• Euro in Forex Trading
  Currency trading news for forex traders