Euro Struggles on Continued Recession Worries
but another GDP reduction would mean the sixth quarterly drop, and indicate that the eurozone is still in a recession. The news is resulting in uneven trading for the euro today. Euro has see-sawed against the US dollar today, and is managing grudging gains against the UK pound. Concerns about the ability of the euro to weather the storm continue to weigh on the 17-nation currency, but there is enough hope and risk appetite to allow the euro to eke out some gains against some of its counterparts. At 15:58 GMT EUR/USD is higher, up to 1.2980 from the open at 1.2971. Earlier, the euro had dropped to 1.2941 against the US dollar. EUR/GBP is higher at 0.8489, up from the open at 0.8446 and recovering from session lows of 0.8432. EUR/JPY is lower, dropping to 132.1650 from the open at 132.1450. If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.