Euro responds well again to reach a two-week high
Currencies Direct November 20th 2012 - < 1 minute read
US: More positive noises coming out of Greece sees the single
currency increase once again.
The positive news reported early on Monday morning (November
19th) continued throughout the day as the pound
recovered from the two-month low last week to reach a two-week high
amid more positivity from Greece.
The fact that the country is expected to receive aid at some
point in the near future, coupled with news that there is a new
confidence over the imminent US fiscal cliff saw more investors put
money into both currencies.
Positivity on this front meant that the euro ended the day at
1.2804, up 0.5 per cent, having reached a high of 1.2819 during the
day, its highest figure since November 7th.
Elsewhere, better support for the pound saw it raise its currency
exchange rate above resistance at 1.5900 against the greenback,
with hopes that this will see even further improvements throughout
the week to come to climb back above the crucial total of 1.600 and
erase losses made in the week gone by.
Written by
Currencies Direct