Euro is inching higher, gaining a little after some earlier losses. Risk appetite is making a slight appearance, and that is helping the euro as Forex traders focus on something other than Greece, and as European markets gain a little ground.
Earlier, uncertainty about Greece sent the euro lower, and it touched a two-month low. Right now, though, the euro has managed to inch higher as European stocks show some fight. Technology stocks are leading gains in Europe, and even travel and leisure stocks are gaining. For now, Greece has been shifted to the back burner, since the Parliamentary vote on austerity measures doesn’t take place until tomorrow.
Indeed, euro is benefit a bit from wait and see, as well as the return of risk appetite. The focus, around the world, is on today’s US Presidential Election. The outcome of the race between Barack Obama and Mitt Romney has the entire world riveted, and that is taking some of the focus off eurozone problems — which can wait until tomorrow. Many are also waiting on news from China.
There is a lot to process over the next few days, and, as a result the euro is managing to gain a little lost ground.
At 14:05 GMT EUR/USD is up to 1.2804 from the open at 1.2797. EUR/GBP is up to 0.8012 from the open at 0.8008. EUR/JPY is down to 102.6950 from the open at 102.7350.
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