Euro is pulling back in Forex trading today, no real surprise with all the uncertainty and worrying going on right now. One of the big issues in the eurozone — Greece — is back in focus, and it’s not helping that a fiscal cliff is looming in the United States as well.
Now that the world’s focus has been pulled away from the US Presidential Election, concerns about what’s happening in the eurozone are returning. Today, Greece’s parliament is expected to vote on the most recent austerity package. If it passes, Greece receives more bailout aid. If it doesn’t, no one really knows what will happen next.
That uncertainty is weighing on risk appetite, and especially weighing on the euro. Concerns about the eurozone, with regard to the economy, are also causing problems with the euro.
It’s not just worries about the eurozone weighing on the 17-nation currency, though. Many Forex traders are also concerned about the United States. Worries about a fiscal cliff are rising and, combined with worries about the eurozone, there is a great deal of risk aversion amongst Forex traders right now. The result is a lower euro pretty much across the board.
At 14:34 GMT EUR/USD is down to 1.2758 from the open at 1.2813. EUR/GBP is down to 0.7984 from the open at 0.8010. EUR/JPY is down to 101.9385 from the open at 102.9630.
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