Euro Gains Strength as Debt Fears Ease

The euro gained on both the dollar and the pound today as traders set aside their worries over the debt levels facing several Euro Zone countries. European leaders – including European Central Bank President Jean-Claude Trichet – began a series of meetings last week to deal with the debt problems and this has buoyed optimism that a solution to stave off a financial crisis can be found.

“Mr Trichet has not always attended these meetings and so the market is taking his late change in schedule as an indicator that the ECB may be looking to work with the EU on a solution to Greece’s debt problems,” said Joshua Raymond at City Index.

Source: BBC News

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.