Europe's Can-Kicking Olympics
Just last week, the euro reached a two-month low, after a meeting of euro-zone finance ministers failed to yield an agreement on how and when a delayed tranche of aid to Greece would be disseminated. Earlier this week, the euro caught a bid and reached a two-week high as traders heard that terms had finally been reached. Last night, it plunged again, as the rumors turned out to be false. Today, the euro is moving higher as the positive rumors have returned.
This highlights the main difficulty one faces when trading the euro -- every move in the currency seems based on a rumor of one sort or another. There are too many meetings (perhaps the European finance ministers should just move in together) and too many officials (from the European Central Bank, the Bundesbank, the International Monetary Fund, as well as various presidents, prime ministers and their political rivals) expressing too many opinions....395 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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