Forex news: US Dollar edges up against the euro

By seryozha - Posted on October 11th, 2011

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The US dollar is on power rally versus its major rival, the euro amid concerns about the vote on ESFS in Slovakia. Imagine a tiny country impacting the forex rate of the euro vs the US dollar! But, anyway, supposedly some forex traders see risk in this final vote to ratify the Eurozone' s enlarged bailout fund.

“U.S. dollar sensitivity to risk aversion has increased more recently, and to achieve further gains it will require risk aversion to intensify, which in turn will require growth worries to deepen and the eurozone crisis to escalate,” said Credit Agricole currency strategists as quoted by MarketWatch.

The EUR/USD forex pair is currently trading at around 1.3590 - 1.3600

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Submitted by JamesBalfour (not verified) on 17 October 2011 - 3:16pm.

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Submitted by ronaldlee (not verified) on 19 October 2011 - 10:09am.

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