Euro Regains Strength on News About Bailout

The euro strengthened today after European Union’s policy makers announced their plans about the rescues package to help the indebted countries in the region.
The package is valued as much as $962 billion, a rather stunning number, and is intended to ease the fiscal crisis, especially in such countries as Greece, Portugal and Spain. Some solid information about the rescue plans after the prolonged period of the uncertainty improved the confidence in the euro, but whether it would be sustained we shall yet see.
EUR/USD rose to 1.3018 as of 10:03 GMT today after it opened at 1.2920. EUR/JPY climbed to 121.32 up from the opening price of 119.74.

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