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Euro fluctuates yet again on fiscal cliff uncertainty

Currencies Direct November 29th 2012 - < 1 minute read

Following weeks of fluctuating news coming out of Greece
affecting the rise and fall of the euro in the financial market,
the single currency has now found itself affected by further issues
from the US.

With the US economy staring towards the coming fiscal cliff in
the new year, sentiments are headed up and down at various points
each day, with the EUR/USD rate being affected alongside.

On Wednesday (November 28th) the euro would drop to a
three-day low against the greenback, before seeing its currency
exchange rate predicted to rise once more in early trading on
Thursday.

The single currency would drop as low as 1.2882 during the day
against the dollar, where the pair would later consolidate with a
fall of 0.47 per cent, and the lowest total since November
25th.

However, the currency is expected to strengthen again on
Thursday, with early Asian markets showing that the rate could jump
back above the 1.2990 level at some point.

Written by
Currencies Direct

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