By CountingPips.com
The euro has increased slightly against the US dollar today in forex trading following two days of declines. The EUR/USD currency pair opened the day at the 1.3506 exchange rate, touched an intraday high of 1.3566 and has come down to currently trading at the 1.3523 level for a modest rise for the day.
The European common currency has been on a recent negative downtrend against the dollar since touching a high point for the year asIreland’s banking and sovereign debt vulnerabilities have been spotlighted and taken their toll. The EUR/USD currency pair is down to the 1.3500 exchange level from the high above 1.4200 in early November for a decline of approximately 700 pips in the span of two weeks.
Today’s news has revealed that England has offered their help to Ireland while European commission and IMF officials traveled to Ireland to discuss a potential bailout.
EUR/USD – The Euro rebounding very slightly in today’s trading after two days of declines and after falling through the 50-day simple moving average yesterday.