12.09 - EUR/USD has turned into one of the most volatile couples
- by Anna K.
So many things are distractive in the markets. For example, we have been watching Apple and American stocks market, which are doing just fine by the way, when we should have been watching the currency market. Why? Well, there the most popular currency couple is taking a lot of hits and can be seen losing price. I am of course talking about EUR/USD – a couple that is going to be even more volatile today, now that we have come to the day where the rate policy is most likely going to be altered.
That’s right. Those who couldn’t get enough of the volatility for EUR/USD can rejoice – there is the couple that can hardly be called stable now. Yesterday when it became known that today the rates were probably going to be altered, the couple managed to fall so rapidly and so swiftly that we began to panic – could it have breached the $1-per-euro point?
Of course the message about the possible changes in the rates comes in one of the worst times possible. We all knew that Eurozone is drenched in economic uncertainty and that sooner or later we were going to see the results of that uncertainty come to the surface and ruin everything for the currency. And here we are, hoping that the cut is not going to be so dramatic, for it to ruin euro for us.