EUR/USD down over 2.1%
In today’s forex trading, the U.S. dollar suffered one of its biggest ever one-day losses against the euro on fears that the $700-billion bailout plan proposed by Treasury Secretary Henry Paulson will further exacerbate the growing federal budget deficit. EUR/USD stood at $1.4794 as of 6:41 EST, up from $1.4466 yesterday. Percentage-wise, the dollar was…
Read MoreMood Swings for EUR/USD
This has officially been the most volatile week for the global currency trading market since the Asian financial crisis of the late ‘90s. Interday trading of EUR/USD went through significant swings as the dollar gained ground on word that the U.S. Federal Reserve had chosen not to change interest rates, only to plummet against the…
Read MoreEuro over a barrel?
EUR/USD dropped to its lowest level in seven months during today’s online forex trading on news that the European economy had contracted by 0.2% in the second quarter. The declining price of crude oil has bolstered the dollar in recent days, helping the greenback to extend the gains it made against the euro in August.…
Read MoreFor the euro, August is the cruelest month
It’s been a volatile year for those who engage in online trading of the EUR/USD. In 2007, the dollar fell off as much as 13% against the euro. Until this month, it looked like 2008 would also be a banner year for the Eurozone’s currency. The euro surged above $1.60 in both April and July…
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