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Euro at Highest in More Than a Week
Posted on June 20, 2008
Traders have been selling the US dollar and bidding the British pound and Euro higher in the currency markets in the Asian and European session. Since no US data is planned for today, movements in the currency market during the US session will depend on how US stocks react today. The US dollar has lost some of its allure as traders are now expecting the US Federal Reserve to hike interest rates in September rather than in August or even next week when the FOMC meets. The Euro is up against the US dollar, hitting a so-far high around 1.5625, the highest level in more than a week. Nearest resist...
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