Euro Edges Higher in Forex Trading

Euro is edging higher today, holding on to some of its overnight gains, as things slow down in the financial markets ahead of Christmas week. Even though Christmas is still more than a week away, things are already slowing down in a lot of markets.

Euro, though, is holding on to earlier gains as Forex traders and other investors ignore the debt issues plaguing the eurozone, and as they shrug off  less than stellar data releases.
There are some possible troubles ahead for the eurozone, though. Eurozone countries remain on watch for credit downgrades, and wage growth has slowed. A government party referendum in Germany has approved eurozone bailouts, and that is providing an edge right now for the euro, as is the successful bond auction recently held in Spain.
No one is sure, however, how well the euro will be able to do long-term, though. There are still many fundamental issues with the eurozone, and there isn’t enough good news — nor are there any solid solutions for the currency region. The current gains for the euro may prove to be very short-lived indeed.
At 14:49 GMT EUR/USD is higher at 1.3025, up from the open at 1.3016. EUR/GBP is higher at 0.8402, up from the open at 0.8389. EUR/JPY is higher at 101.4170, up from the open at 101.3550.

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