Euro Ticks Higher in Forex Trading
Risk appetite is offering some support to the euro in forex trading on the currency market today. The 16-nation currency is a little higher against the U.S. dollar, thanks to hopes that the global economic recovery may yet get back on track.
Indeed, news out of China and Japan indicate that things might soon be rolling again. Better employment news in the U.S. is also providing some cautious reasons for optimism, and providing some support for the euro in forex trading.
As a result of some of this risk appetite, the euro is being favored in forex trading. For now, forex traders are ignoring concerns about sovereign debt and instead focusing on possible recovery. The real question, of course, is how long this current round of optimism will last.
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