Monexnews-the Euro rose against the U.s. Dollar is traded for the first time in five sessions last following the on demand bond auction solidnya Italy, despite the potential for prolonged political ketidapastian it still has risks for the single currency. The Euro also drew encouragement from the 2nd day of testimony for the Chairman of the U.S. Federal Reserve Ben Bernanke, which expresses its support to the loose monetary policies of the central bank.
"Events that occurred during the last few days have reminded the market that the Euro zone is still overshadowed by the large uncertainty in terms of economic growth and the prospect of reform," said Camilla Sutton, head of universal currency at Scotiabank in Toronto. "Technical and fundamental Signals still indicate a further decline in the Euro, especially with an election result that Italy has made a settlement of the crisis in Europe is becoming more complicated." (vid)
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