Euro Rebounds as Irish Debt Fears Ease

With the likelihood of a bail-out for Ireland growing, fears that the struggling nation will fail to meet its dent obligations have subsided. This helped propel the euro to a second-straight day of advances over the dollar.

“For the most part it’s a classic risk-on move,” said Greg Anderson, a currency strategist at Citigroup Inc. in New York. “One of the keys of these packages, why they calm market fears, is they tie Europe together. The countries won’t exit.”

Source: Bloomberg

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.