US dollar is gaining ground today, heading higher as eurozone troubles continue. Worries about what’s next for the eurozone are weighing on risk appetite, as the division in thought amongst eurozone leaders becomes more pronounced.
Greenback is heading higher today as risk aversion gains the upper hand and riskier currencies head lower. Concerns about what’s next fort he eurozone are once again in focus, and the US dollar is higher as a result. Worries about Greece are once again surfacing, and there is also concern about the split between eurozone leaders. There are very definite differences in how the sovereign debt crisis should be approached.
Also helping the US dollar is the general air of uncertainty. Even though there have been some improvements in the economic situation around the world, things are far from certain. There are worries about the fiscal cliff, more recession, and any number of other issues. All of these weigh on risk appetite and send the US dollar higher.
For now, greenback has the upper hand against European currencies, even though it down against the Japanese yen right now.
At 14:39 GMT EUR/USD is down to 1.2967 from the open at 1.2968. GBP/USD is down to 1.6014 from the open at 1.6034. USD/JPY is down to 82.1450 from the open at 82.3450.
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