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Choppy Euro Today
By Benny Nardino | November 17, 2009
LONDON: Choppy Euro trading remain today as EURUSD keeps range. But what’s keeping the boil on Traders, EU politicians and central bankers minds ticking is the euro surge.
Choppy Euro
A high-ranking E.U. delegation is now set to travel to China at the end of next week in a quest to persuade Chinese authorities to let their currency appreciate. Whether the Chinese would heed is another matter. As it is, it favors China’s export.
Trichet will join the party alongside the head of euro-zone finance ministers, Jean-Claude Juncker. German economist Reinhard Kudiss summed it up as an “.. act like a tax on exports”.
However, it’s no surprising. In recent weeks implied volatility expectations have dropped considerably from peaks. While this may not have resulted to intraday US Dollar price volatility slowdown but, markets remain extraordinarily choppy on a day-to-day basis as major currencies remain confined to choppy ranges.
Given the exceedingly low 1-week volatility expectations, we suspect that this may continue to be the case through near-term trading. Why not have your say? Use Comment form below.
Tags: Boil, China, Chinese Authorities, Chinese Yuan, choppy, choppy euro today, currencies, Delegation, Dollar Price, euro, euro zone, Finance Ministers, German Economist, intraday, Jean Claude Juncker, London, Politicians, Price Volatility, Reinhard, Single Currency, slowdown, Trichet
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