currency

UK pound is lower against the euro in forex trading today, dropping as concerns about the British economy acquire prominence. The British economy, which appears to be struggling, stands in contrast to the eurozone economy, led by a Germany that appears to be seeing improvement.

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.

Euro has fallen below the 1.30 level against the US dollar today. Borrowing costs in Italy have reached record highs, and Spain continues to borrow from the ECB. As a result, concerns about the eurozone debt situation continue to weigh on forex traders.

Once again, many are asking what's next for the euro in forex trading. As high beta currencies get a bit of a boost today on the FX market, there are still concerns about what's next for the euro.

Yesterday, the Australian dollar saw rather large gains in currency trading on the FX market, moving to highs not seen in a month. The stock market rally in the U.S. and Europe, along with an increase in risk appetite, led to solid gains for the Aussie.

The New Zealand dollar is performing quite well today in forex trading on the currency market. Taking a break from the focus on the euro zone and the U.S., some forex traders are turning an eye toward the positive news coming out of New Zealand.

The euro appears to be in something of a consolidation mode right now in forex trading on the currency market. Earlier, EUR/USD appeared to be making a run at the 1.40 level, but was rejected.

China certainly appears to be on its way to building the next de facto world currency. In spite of some relatively recent calls for a new global reserve currency, it appears that China could actually be setting things up for the ascendancy of the yuan.