mardi 24 mars 2015
Surprise! Euro shows signs of life vs. U.S. dollar
Posted on 16:07 by nice news
The euro is making a comeback, surprising trash-talking traders who had been predicting it would soon hit parity with the U.S. dollar.
It traded as high as $1.10 Tuesday, bouncing back from a 12-year low of $1.05 last week. The euro's mini-surge is due almost entirely to Europe's economy finding its heartbeat again after the eurozone barely dodged a recession last year.
"Signs of improvement in the European economy and the weight of money flooding into European equity markets ... has triggered a savage correction," explained strategist Kit Juckes from Societe Generale. "Many of the euro short-sellers are running for cover."
It traded as high as $1.10 Tuesday, bouncing back from a 12-year low of $1.05 last week. The euro's mini-surge is due almost entirely to Europe's economy finding its heartbeat again after the eurozone barely dodged a recession last year.
"Signs of improvement in the European economy and the weight of money flooding into European equity markets ... has triggered a savage correction," explained strategist Kit Juckes from Societe Generale. "Many of the euro short-sellers are running for cover."
Surprise! Euro shows signs of life vs. U.S. dollar
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