Lack of single-currency investment sees gains given back
Currencies Direct October 26th 2012 - < 1 minute read
The euro faces poor performance headed into Friday (October
26th), following poor investment towards the end of the
week, which has seen all gains against the dollar made earlier in
the European trade being given back on Thursday.
A lack of buyers of the single currency has been blamed for the
poor performance, as they continue to hold off for any signs of
positive financial news emanating from the troubled Spain and
Greece, and this has led the EUR/USD level to sit at 1.2920.
However, there are fears that a lack of spending could see this
drop to 1.2915 by the end of Friday, with the market hoping to see
it hold its higher rate for the third day.
Elsewhere, the dollar fell from its four-month high against the
yen, dropping by 0.4 per cent to sit at 79.99 after hitting 80.38
early in trading on Thursday.
It is thought that the Bank of Japan is set to ease policy next
week, which could see the dollar make its second week of
losses.
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Currencies Direct