The Euro-to-Dollar rate entered the new month on its front foot last week even as the market mood soured again and some technical analysts say it could rise further in the days ahead, although others are wary of a rebound by the Dollar.
Europe’s single currency rose 1.39% last week with much of that gain coming in the latter half after European Central Bank (ECB) suggested it will stand behind ‘periphery’ bond markets if falling prices and rising yields scupper its efforts to support the financially vulnerable economies of Southern Europe.
Thursday’s policy update drove a fall in Italian bond yields and helped put the Euro on its front foot at the tailend of a month where rocketing ‘periphery’ bond yields had aggravated concerns about debt sustainability in the Eurozone… more
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