Dollar Has Gained Significantly Against The Euro
On the day that the UK general election is taking place Forex traders and trading companies such as Spread Co will see the GBP go through many twists and turns but it’s the EUR/USD pair which is catching most traders’ eyes. The dollar has gained significantly against the Euro this during this morning’s trading.
Here in the UK the general election seems to be taking the lion’s share of the media coverage but the civil unrest taking place in Greece ahead of the government’s decision about the EU/IMF rescue plan is also in the public eye, following three bank employees losing their lives yesterday during riots, as protestors show their disapproval to the huge proposed budget cuts to be faced by the struggling Greek economy.
The Euro had a dismal showing at Forex markets yesterday and has continued this trend by falling to a 14-month low against the US dollar. Forex traders a growing more and more cautious of the European single currency as the rescue plan for Greece is still to be agreed by Greece and its 15 fellow EU member states.
All of the uncertainty about the Euro and the civil unrest in Greece saw the Euro plummet to $1.2738, which is a 14-month low for the single European currency against its US counterpart. This and many other factors have led to the cost of insuring against default for European banks rising to a one-year high.
To speculate on what the Euro will do next visit www.spreadco.com where you can open a new Forex trading account in minutes. If you’re new to Forex or want to get a first-hand view of Spread Co you can open a $25,000 demo account to evaluate Spread Co, its trading platform and the prices on offer.
