In yesterday’s trading, the single European currency resumed its uptrend at last. The euro has recently been affected by news on exacerbating Eurozone banking crisis and weak growth reports in separate European countries. Moreover, the currency has also been under the influence of the political turmoil in Greece.
Nevertheless, Wednesday news concerning the uncertainty in Greece pushed the euro up. Therefore, EUR/USD started uptrend. Later, amid negative statistics on US retail sales, the currency pair rate scaled up to 1 US dollar and 26 cent.
According to Financial Times Deutschland, European leaders are set to loosen the terms of Greece’s bailout whatever the outcome of the parliamentary elections may be.
A day before, the Finance Ministry of Greece announced that over the first 5 months of 2012 the country managed to meet the budget deficit target, and, what is more, saved 2 bn euros.