Today traders at ForexYard saw the euro falling against the US dollar and other foreign currencies as Germany casts doubt over plans for a second bailout by the International Monetary Fund and the European Union for Greece and its suffering economy. The euro lost ground against the US dollar following a 4 per cent climb for the euro versus the Greenback over the past three weeks. However, this week’s European Central Bank (ECB) policy decision may put the euro back on track.

A German Finance Ministry spokesperson threw doubt over the possibility of a second bailout plan for the Greek economy, stating “it was not certain there would be a second Greek bailout programme”. This casting of doubt was enough to derail the recovery of the euro, which had climbed to $1.4658 during its recent resurgence, but today at ForexYard and other Forex trading platforms and markets the single European currency slumped to $1.4592 against the dollar before climbing back to the $1.4612 mark. This left the euro down 0.15 per cent on the day against its American counterpart.

However, it isn’t all doom and gloom for the euro. On Thursday the ECB is expected to announce another interest rate hike in July, which, in turn, will boost the ailing euro, as it did when the last interest rate increase took place in the Eurozone. The EUR/USD currency pair was also hampered by trader’s and investor’s fears that the US Federal Reserve will continue with its ultra-loose monetary policy, with many market analysts predicting that US interest rates will stay low for a longer period than first predicted.

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Related posts:

1. Euro Fell Against The Dollar And The Yen
2. Euro Vs US Dollar Tug-Of-War
3. Euro Fell Against The Dollar
4. Euro Currency Pairs Sliding Again
5. Forex Traders Avoiding The Euro

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