The euro rose against all other major currencies today spurred by the carry trading optimism and weakness experienced by the Great Britain pound and the U.S. dollar.
EUR/GBP reached its historical maximum as the pound has been losing its weight against other currencies on Forex. Bank of England monetary policy is currently aiming on a lower interest rates, while the real estate sector in the United Kingdom is suffering a sharp decline in house prices.
The U.S. dollar, after stopping its massive rollback against the euro last week, started this one with two losing sessions — both Asian and European. Weak activity of the U.S. Forex traders before Christmas and new carry trade positions opening could contribute to this EUR/USD behavior.
EUR/GBP rose from 0.7242 to 0.7290 during the trading day, while EUR/USD gained slightly less rising from 1.4366 to 1.4412.
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