Euro Higher as Currencies Consolidate

Euro is mostly higher today, gaining against its major counterparts as they consolidate recent gains and as Forex traders speculate about the future.

Even though the euro has a lot going against it right now, the 19-nation currency is heading higher against its major counterparts today. Euro is gaining ground as other currencies consolidate and as Forex traders prepare for what’s next.

The release of the Fed minutes seem to indicate that there will be an interest rate hike in December, and other currencies have seen good news that puts them ahead of the euro. Right now, though, euro is seeing some success as investigations into the Paris terror attacks seem to produce results, and on expectations for economic recovery.

However, there are still some concerns about what’s next for the 19-nation currency. A petition in Finland is forcing debate about leaving the eurozone, and there is already turmoil around a possible British exit of the European Union. There are many concerns and obstacles, and even the possibility that the euro will reach parity with the dollar in early 2016.

At 14:24 GMT EUR/USD is up to 1.0721 from the open at 1.0652. EUR/GBP is up to 0.7016 from the open at 1.6991. EUR/JPY is up to 131.7580 from the open at 131.5990.

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