ECB President Draghi says Euro zone is on its way of recovery

On November 9, 2012, in News, by Currency Team

EUR/GBP     £0.7984
Euro up against Sterling on ECB President Draghi’s statement that Euro zone is getting out of its economic crisis

Euro strengthened against Sterling and US Dollar and came off two-month low. Although ECB President Draghi says Euro zone is on its way to economic recovery, concerns over Greece and Spain continue.

At the moment, however, the Single Currency continues to grow against Sterling.

GBP/USD     $1.5990
Sterling
gains against US Dollar on positive economic data

Sterling gained against US Dollar today as the Official Bank Rate and Asset Purchase Facility indexes came out just as expected. No major news is expected from the US today.

EUR/USD     $1.2765
Euro bounced off two-month low, gaining against US Dollar

German exports fall, and investors are still uncertain about Greece’s and Spain’s financial aid. Still, however, ECB President Draghi reported signs of recovery in the Euro zone, which affected the Euro and it came off a two-month low.

At the moment Euro continues to gain against US Dollar.

 

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