25th October 2011
The US dollar (USD) continues to show signs of uncertainty ahead of the crunch meeting of European leaders that is set to take place today (October 25th).
Forex trading for USD against the euro was slightly down at 1.3940 this morning, as uncertainty over the outcome of the meeting continues to haunt investors.
USD was also marginally down against sterling, with a 0.08 per cent decline to 1.5982, while the greenback showed mixed results against the Swiss franc and Japanese yen in this morning's early trading - losing 0.34 per cent and rising by 0.07 per cent respectively.
Last week, Reuters reported the euro dipped against USD ahead of the first EU summit which took place over the weekend, with Manuel Oliveri, currency strategist at UBS, highlighting growing international pressure on European leaders to deliver a satisfactory outcome.
However, divisions between France and Germany over additional bailout funding for the eurozone resulted in the currency losing momentum against its safe haven counterparts.
Posted by Andrew Cottrill
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