- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7498 EUR (-0.00163, -0.217%)
The recent meeting of EU finance ministers is affecting this pair as it is the others. Having been on the rise for three straight sessions, the single currency capped its gains yesterday as European officials disagreed about how to solve the Eurozone sovereign debt crisis. Germany rejected calls to increase the size of the EU bail-out fund and issue a single euro bond.
US Dollar Euro (USDEUR) Exchange Rate
Angela Merkel was critical of having a single European bond stating that current EU treaties don’t allow for such an issuance. Dollar weakness also comes from Fed Chairman Bernanke’s statements suggesting the Fed may expand bond purchases beyond the $600bn that was announced last month.
Currently trading at the $1.3350 level with focus still fixed on eurozone.
Today’s other Forex news:
British Pound US Dollar (GBPUSD)
Fears over eurozone debt issues sustained demand for the dollar yesterday, though gains have proved short lived with sterling half a cent higher this morning.
Even with Euro weakness continuing to support a stronger dollar, its climb has been hampered by comments from Fed Chairman Bernanke.
British Pound Euro (GBPEUR)
The pound made a small half cent-gain against the euro yesterday as fears arose from disagreements between EU finance ministers that the debt crisis is here to stay, at least for the short term. Investors were concerned primarily with the results of a meeting between European finance ministers, which indicated that the safety net for troubled EU members could increase to €750bn.
We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.