Euro is trading mixed today, gaining ground against low beta currencies, but losing ground against its high beta counterparts. There is a lot of concern about the euro right now, and the 18-nation currency is only getting a bit of a boost as risk appetite makes an appearance.
Euro has been struggling recently, and for good reasons. Worries about what’s next for the eurozone are valid. Germany is fixated on balancing its budget, even though it doesn’t necessarily need to do so. At the same time, Italy and France aren’t doing enough to bring their budgets under control, and Greece just continues to make ill-advised decisions.
In addition to the internal threats to the eurozone economy, external problems are weighing, and reducing demand. Slowing in China, sanctions against Russia, worries about ISIS (or ISIL), and even Ebola are all causing a bit of economic difficulty for the 18-nation currency region.
However, today is seeing a bit of risk appetite, so the euro is higher against the dollar and the yen, even as it struggles against its high beta counterparts.
At 10:22 GMT EUR/USD is up to 1.2772 from the open at 1.2751. EUR/GBP is down to 0.7914 from the open at 0.7018. EUR/JPY is up to 136.7450 from the open at 136.7000. EUR/CAD is down to 1.4371 from the open at 1.4394.
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