21st November 2011
The euro has seen a steady start to the week in Asian trading this morning (November 21st), after the single currency witnessed a short rally at the end of last week.
A small amount of pressure was removed from the euro through an announcement in the US that the country has failed to effectively tackle its $1.2 trillion (£767 billion) deficit, Reuters reports.
However, investors continue to look for greater clarity from policymakers as to how eurozone governments will tackle their own debt issues, leading to ongoing uneasiness in forex trading.
"Essentially the euro needs a stronger European economy so as to reduce fiscal deficits. For that to happen, the euro has to fall," Minori Uchida, a senior analyst at Bank of Tokyo Mitsubishi UFJ, told the news provider.
Last week, the single currency was marginally down in early trading on Friday as investors moved out of the money amid fears that the ongoing financial crisis afflicting the eurozone could spiral out of control.
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