Euro Inches Back Up After Dropping on Juncker Comments
Jean-Claude Juncker, Eurogroup leader, said earlier that the IMF may not send its portion of bailout funds to Greece next month, as agreed. Concerns about the growing difficulties in Greece, and concerns about what could next, sent the euro lower in forex trading.
However, the euro is gaining ground again against the U.S. dollar, thanks to some disappointing data. Initial unemployment claims rose in the U.S. last week, and GDP data for the first quarter wasn’t revised upward as expected. The news was disappointing, and that is causing some dollar weakness.
As a result, the euro is gaining in forex trading as focus shifts to the problems in the U.S. It will be interesting to see what happens next. EUR/USD has been quite volatile in currency trading lately as forex traders change focus, trying to decide which economic situation is worse.
Similar Posts:
- Euro Gains in Forex Trading as GDP News Hurts U.S. Dollar
- U.S. Dollar Down Across the Board
- Euro Continues to Struggle in Forex Trading
- Euro Lower in Forex Trading
- U.K. Pound Heads Lower in Currency Trading
