Asia Bizz: Euro Stands Firm Over Dollar As German Bond Auction Pulls Strong Demand
The Euro firmly cut down its losses and stood strong over the US dollar, as the German government auctioned out its bonds, which attracted strong demand in the market. The Euro was strong and recovered successfully as Germany auctioned out $5 billion dollars worth bonds in the market.
Experts in the investment field stated that even thought there has been such a big event that has taken place in the European economy, the investors in the continent were loyal enough to their currency’s growth. They all said whenever there is an auction in the European bonds, there a sure effect on the currency strength.
The Euro was good today, as the Euro cost $1.2875 at trading. The Euro recovered strongly from this weeks low of $1.2845. The Dollar, on the other hand is striving really hard to make a mark once again, but he economical crisis and slow growth rate is consistently hindering US’s growth.