The euro is finding support on the assumption that the sovereign debt crisis will be contained. Many forex traders seem to think that European leaders are serious about finding a solution to the debt crisis, and that it will be contained.
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The Japanese yen fell against all of its major counterparts today, including the US dollar, as the optimism regarding the European debt troubles situation changed the risk-averting mood of the markets to positive.(...)
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One of the difficulties associated with making progress on the sovereign debt crisis, and bailing out countries like Greece, has been foot-dragging from Germany. Angela Merkel, the conservative German chancellor, has seen divisions over the matter of eurozone bailouts in her coalition government.(...)
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The British pound grew strong amid the European debt crisis and the downfall of the stock markets and commodities, falling against only two out of sixteen most-traded currencies today.(...)
Read the rest of Pound Rises Amid European Crisis and Run from Risk Markets (139 words)