The euro reversed virtually all of its gains yesterday, as investors are now shifting their focus from Greece’s political problems to Spain’s debt issues. The EUR/USD dropped as low as 1.2509 last night, not far from its recent two-year low of 1.2495.
Today, investors will be watching for any announcements out of Spain which could shed some light on how serious the debt situation actually is.
Main News for Today
US CB Consumer Confidence-14:00 GMT
• Forecasted to come in at 69.8, above last month’s 69.2
• Any better than expected news could help the dollar against the JPY
Read more forex news on our forex blog
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.