Euro rose the most in eight months against the Dollar, Btrader
The Euro rose the most in eight months against the Dollar last week, as rumors circulated that central banks were out buying the currency. The single currency’s unexpected rise partially fueled by Germany’s recent legislation to ban naked short selling in select financial stocks and Euro denominated instrument. This “ban” will make it more difficult for traders to sell European securities, thus limiting selling pressure on the Euro.
Not a Btrader user, yet? Register here.
On Thursday, the Euro jumped a remarkable 1.5% against the USD, its largest five day gain since September – pushing the currency the pair to cross above the 1.2500 mark. This unexpected increase comes only a few days after the single currency plunged to a new four year low of $1.2145.
Currently, it remains unknown whether this rally will continue. In the coming days, traders will want to see other Euro Zone nations join Germany in its recent “trade bans”.
Not a Btrader user, yet? Register here.
