Risk Currencies Get a Boost in Forex Trading

Euro and other currencies gain on the FX market

Risk currencies are getting a boost in forex trading today, heading higher as better news improves matters. China’s economic data proved better than expected. The German ZEW gained a great deal more than many thought it would, and recent European bond auctions have been successful.

All of this is encouraging a bit of risk appetite. As a result, high beta currencies are moving higher against the US dollar and the Japanese yen. The euro is seeing a rally, after days of disappointment. Euro has still been unable to break through the  1.2800 level, but it is maintaining above the 1.2700 level against the US dollar.

For now, there is optimism that Europe can solve some of its problems and that China won’t be slowed down as much as originally thought, and that is helping the euro and other risk currencies. 

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• Currencies in Forex Trading
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