Euro’s Movement This Week: Sharp Rise After Decline

The euro was weakened in the first half of this week by the concerns for the sovereign-debt crisis in the European Union but was strengthening against most other major currencies over the second half of the week.
The movement of the euro against the greenback is good example of this weekly trend as the shared European currency dropped to the lowest level in four years yet managed to rebound by the weekend. Against the Swiss franc the euro was at the stable low level at the beginning of the week but rose in the second half of the week. The similar story — the movement up and down at the week’s first half and sharp advance in the second — happened with euro’s movement versus the Great Britain pound, the Canadian dollar and the Australian dollar with one big difference: yesterday, at the Friday, the euro experienced the decline against these currencies.
The euro’s performance versus the Japanese yen has different story. The European currency experienced volatility against the yen with the noticeable pull toward decline. Therefore in the end the euro ended below the weekly opening level versus the Japanese currency. The drop was not significant, but drop nonetheless.
EUR/USD closed at 1.2571 after opening at 1.2348 and reaching the weekly low level of 1.2143. EUR/GBP closed at 0.8678. after it opened at 0.8500 and reached its highest level of 0.8772 in the week. EUR/JPY closed at 113.14 after it opened at 114.01.

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