Monday, 21 May 2012

Euro Jumps Into Positive Territory Versus Dollar


The euro is now in the green for the day against the dollar as a Spanish government official says Spain wants the ECB to support volatile debt markets. The statements reflect an ongoing shift in euro-zone policy, especially ahead of this week's summit of EU leaders. "Europe's changing from being all about austerity to all about growth," says Faros Trading's Douglas Borthwick. "People are finally realizing there are going to be some change of policies." The euro also rises in line with US equities and other higher-yielding currencies. The euro trades at $1.2789, now up 0.05% on the day versus the dollar.


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