Euro recovering on the currency market[B]Risk aversion[/B] ticked up earlier today as Asian equity markets declined. As a result, it was really no surprise that the pound and the euro moved lower in [B]forex trading[/B] on the currency market. Indeed, earlier today, it was clear that concerns about risk and the global economic recovery were taking center stage as the euro fell below 1.4300 and the sterling dropped below 1.6400 in [B]currency trading[/B].
Things could be turning around now, though. Barack Obama announced that he is re-nominating Ben Bernanke as Fed chair. This is providing some hope for the [B]U.S. stock market[/B], and European markets ended up closing higher. The euro is back above 1.4300 in forex trading. The pound is still down, though.
It is possible that the pound could get some new upward momentum if stocks in Britain continue to do well, and evidence of an[B] improvement in economic conditions[/B] is seen.
[B]See Also[/B]
[ul]
[li]Euro in Forex Trading[/li]Forex trading on the currency market
[/ul]