European Strikes Today Draw Further Attention to Situation

Euro higher in forex trading, even with strikes

Europeans are going on strike in large numbers today to protest austerity measures. Euro zone countries are trying to cut back on their spending in order to reduce deficits. However, such measures often fall heaviest on the people — who are not happy about it.

However, even with these concerns about sovereign debt and unrest from strikes, the euro is gaining in forex trading. The euro is higher against the U.S. dollar, which can’t seem to find its way now that focus is shifting toward mounting U.S. debt and a stagnating economy.

There are some expectations that the euro will not be able to hold above its recent high of 1.36, and that eventually it will have to drop as the situation in the euro zone become increasingly dire.

See Also

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!