By: Barbara Zigah
Increased investor risk appetite helped to push the Euro into positive territory in Asian Forex trading today. While one trader commented that there is still some aversion to the Euro, especially given the problems in debt-burdened Greece, overall, higher risk assets were in demand. As reported at 1:17 p.m. (JST) in Tokyo, the Euro held steady against the U.S. Dollar, trading at $1.3560; yesterday on the EBS Forex trading platform the Euro had fallen to $1.3463. Versus the Japanese Yen, the Euro traded at 122.40 Yen, an increase of .2%.
Asian share prices, in general, saw broad gains following Monday’s rally in the U.S. stock market on the heels of the U.S. House of Representative’s passage of the Obama administration’s controversial healthcare bill. The U.S. Dollar Index, which gauges the greenback’s performance versus a weighted basket of major currencies, traded at 80.590 .DXY, well off the 8-month peak set last month when it struck 81.342 .DXY. In individual currency trading, the U.S. Dollar traded up .2% against the Japanese Yen at 90.32 Yen; yesterday, it had fallen to 89.83 Yen, however it should be noted that Japanese markets were closed yesterday for a national holiday.
Investor Whetted Risk Appetite Spurs Only Small Demand for Euro
After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.