Currency Market: Week 1 to December 5
December 6th, 2008
We note that the euro has appreciated about all European currencies and the U.S. dollar. This is mainly due to one reason: the grim news coming across the Atlantic did reverse the widespread belief that a drop in ECB interest rates would
This week has been a week with lots of economic data: issues in indicators of U.S. and European descent rate record by the European Central Bank, etc..
Here graficarmos the foreign exchange market movements in foreign currency units per unit of euro:
strengthen the dollar. In fact, the dollar fell against the euro on Thursday as some investors praised cut bolder than expected from the European Central Bank as a proactive step toward halting
a deep recession in the region of 15 countries.
Specialists agree that "The market has given the euro the benefit of the doubt, since the ECB was cut as aggressively as reasonably could have expected." This helped the pound sterling out of their historical lows in 6 years against the dollar, but continued to lose ground against the euro.
Tags: European Central Bank, of euro, the dollar