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Euro Rises vs. Dollar, Yet Rebound Considered Short-Term

May 7, 2010 at 11:29 by Vladimir Vyun

US DollarThe U.S. dollar halted its 4-day rally against the euro and fell today on the speculation that the European governments and the central banks will contain the spread of the debt crisis as the Group of Seven nations plans to discuss the fiscal troubles of Greece.

The experts consider the previous depreciation of the common European currency a bit excessive. Yet they say that the rebound is purely technical and doesn’t really reflect the general investors’ outlook for the euro, which remains rather bearish.

EUR/USD traded near 1.2740 as of 9:29 GMT today after it opened at 1.2619.

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