Euro is trading mixed today, gaining against currencies like the dollar and yen, but falling against the pound. Risk appetite is helping the 19-nation to some degree, but there are still questions about what’s next for the eurozone and Forex traders are considering what the Brexit might mean.
There are some factors weighing on the euro right now. Concerns about what’s next for the eurozone are providing some downward pressure on 19-nation currency. The Brexit has had an especially large impact on the euro. Not only are there trade concerns with the United Kingdom voting to leave the European Union, but there are also worries that eurozone countries will choose to pull out of the monetary union now that one country has abandoned the ideal.
There have been some supporting factors for the euro recently, though. Risk appetite is back on, with stocks around the world performing well, and that is helping high beta currencies like the euro. However, just because the euro is seeing some progress doesn’t mean that the situation is stable.
At 11:42 GMT EUR/USD is higher, moving up to 1.1078 from the open at 1.1060. EUR/GBP is lower though, dropping down to 0.8340 from the open at 0.8349. EUR/JPY is up to 115.90 from the open at 115.80
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