17-nation currency falls back below 1.30 level
Yesterday, euro saw a great rally in forex trading on the currency market, heading above the important 1.30 level against the US dollar. Today, though, the rally has stalled and the 17-nation currency is lower again.
Some of the drop is likely due to profit taking, but some of the drop is also probably related to the euro forex trading forecast. No one knows what's next in the drama related to Greece -- and the uncertainty just continues.
After a few days of hopefulness regarding the Greek debt talks, things are once again looking very uncertain. As a result, talks appear to be ready to break down again, and there are worries about what could happen next. Plus, Greece won't sign an austerity pledge like some EU leaders want.
It looks like the Greek situation is rapidly heading back to square one, and the euro is dropping in forex trading as a result.
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