Date: Monday 21 Jun 2010
The euro fell slightly against the dollar on Friday after posting another strong weekly gain.
Risk appetite had picked up following good demand for debt auctions in ‘risk’ countries such as Spain however underlying debt concerns in the region, by the end of Friday’s session, took the euro lower against the dollar at $1.2365.
The euro had been supported by news out Thursday that European governments agreed to publish the results of stress tests on the region’s 25 most systemically important banks in July in a bid to boost investor confidence.
Rumours have been circulating that Spain would be tapping emergency aid from the EU and the IMF. Spanish Prime Minister José Luis RodrÃguez Zapatero said, “There is nothing better than transparency to demonstrate solvency, to give confidence and to leave behind us all these unfounded rumours.”
The greenback eased against the yen at 90.76 yen from 90.98 yen the previous session. Against the pound, the dollar was unchanged at $1.4827.
Traders will be looking ahead to the UK coalition government’s emergency budget on Tuesday.
The euro fell slightly against the dollar on Friday after posting another strong weekly gain.Risk appetite had picked up following good demand for debt auctions in ‘risk’ countries such as Spain however underlying debt concerns in the region, by the end of Friday’s session, took the euro lower against the dollar at $1.2365.
The euro had been supported by news out Thursday that European governments agreed to publish the results of stress tests on the region’s 25 most systemically important banks in July in a bid to boost investor confidence.
Rumours have been circulating that Spain would be tapping emergency aid from the EU and the IMF. Spanish Prime Minister José Luis RodrÃguez Zapatero said, “There is nothing better than transparency to demonstrate solvency, to give confidence and to leave behind us all these unfounded rumours.”
The greenback eased against the yen at 90.76 yen from 90.98 yen the previous session. Against the pound, the dollar was unchanged at $1.4827.Traders will be looking ahead to the UK coalition government’s emergency budget on Tuesday.
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