Asia Bizz: The Euro Stands Up Firm And Rises In European Market, As Investors Reflect On Global Share Prices
The Euro had a substantial rise on Thursday, as there was a strong rise in global share prices, plus the investors were encouraged to go for more riskier currencies in the market. The Yen went low again after having a week of strong rise against the Dollar. The European market on the other hand rose by 0.6% where it was strong in the US and Asian markets.
Experts have still kept their eye on the risky assets and the relation between the euro dollar. One of the main reasons that the stocks in Europe have risen is because of ‘bottom fishing’. But then we have the US, the jobless rates and economy can still play a strong role to pull down the rise in the Euro.
If we can sum the whole situation up, the main reason for the rise in the Yen, the Euro and the Swiss Franc is the global economic meltdown, where the other big currencies are losing their grip.It will take time for the global scenario to neutralize and the US markets for sure will play a big role in it.
Source: Reuters
