15th February 2012
The announcement that China could expand its investments in Europe in order to aid the ailing region have resulted in a rally for the euro today (February 15th).
As of 04:50 GMT this morning, the euro had reached $1.3164, rising from an earlier low of $1.3109.
It comes following comments from People's Bank of China governor Zhou Xiaochuan that the country is intent on expanding its investment in Europe, while he also gave his backing to the monetary measures taken so far by the European Central Bank.
Koji Fukaya, director of fixed income and global foreign exchange research at Credit Suisse in Tokyo, told the Wall Street Journal: "It seems the brakes have been put on the euro's fall."
Yesterday, the euro diminished after investors seemingly lost confidence that had been fleetingly restored following the announcement that Greece is set to embark on a new programme of austerity measures.
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