Euro is mixed in forex trading today, following the latest Bank of Japan announcement, as well as the latest Spanish bond offering and the expectations that Germany and France will announce joint proposals for euro reform by May.
Currencies seem to be looking for direction today, as a dearth of economic data forces traders to focus on other matters. Spain’s latest bond offering shows yields holding steady, which is an encouraging sign. Additionally, Forex traders are interested in the promise made by German and French leaders to put forward joint proposals for euro reform by May.
There has been something of an uneasy alliance between the conservative German Chancellor, Angela Merkel, and the socialist French President, Francois Hollande. The two are promising that they will work out some joint euro reform proposals, and re-affirming the ties between France and Germany on the 50th anniversary of the Elysee Treaty.
For now, many currencies are simply waiting for more information and direction. As a result, things are a little mixed today, including for the euro against its major counterparts.
At 14:18 GMT EUR/USD is heading a little bit higher, up to 1.3319 from the open at 1.3313. EUR/GBP is a little bit lower, moving down to 0.8395 from the open at 0.8411. EUR/JPY is also lower, down to 118.4395 from the open at 119.3050.
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