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EUR/USD Decline Continues as Concern for E.U. Economy Strengthens — Forex Blog

The surge of optimism, brought by signs that China plans to relax yuan’s peg to the dollar, was short-lived and hasn’t helped the euro much. On the other hand, credit rating of BNP Paribas, which was decreased by Fitch Ratings from AA to AA-, reignited fears that the debt crisis will strangle European economy. News from the U.S. weren’t supportive to the dollar, though, as housing sector... moreThe surge of optimism, brought by signs that China plans to relax yuan’s peg to the dollar, was short-lived and hasn’t helped the euro much. On the other hand, credit rating of BNP Paribas, which was decreased by Fitch Ratings from AA to AA-, reignited fears that the debt crisis will strangle European economy. News from the U.S. weren’t supportive to the dollar, though, as housing sector continues to show signs of weakness. Therefore, the decline of EUR/USD currency pair isn’t that big as it could be. EUR/USD trades now near 1.2274. view page