Forex Broker---- Portuguese, whose rating has just been downgraded, received success in launching its national debt this week. On July 14th, Portuguese sold 1.68 billion euro debts, more than expected 1.5 billion euro.
Forex analysts comment that, according to the reaction from the bond market, forex investors’fears against European debt violation reduced. The forex price of the euro also took the strong momentum. On Thursday morning session, the euro rose for 0.4%. The total increase hit 4.5% this month.
Stimulated by the news that Spain and Portuguese national bond went popular, euro forex price continued to rise excessively on Thursday. Up till 18:00 GMT on Thursday, the euro reported 1.2792 against the dollar, up 0.4%, and once rose to 1.2802. So far this month, the total increase of the euro reached 4.5% or so.
Some forex analysts estimate that as short-term increase went so fast, the euro may need to catch the callback to 1.25 before another rally. The euro is hopeful to reach 1.30 in a few weeks.----Forex Broker: Ikonfx
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By Amanda