As pressure continues to weigh on the market pending an outcome of the debt crisis in the eurozone and the Governing Council of the ECB decided to lower European interest rates 25 basis points, can be said against the dollar, the euro has a small margin. 22 hours to GMT (23 hours in Paris), the euro bought 1.3808 dollars against 1.3746 dollars Wednesday to 22 hours GMT. Faced with the Japanese currency, the euro rose to 107.82 yen also against 107.28 yen late Wednesday. A report that the rise of the euro against the greenback has already been found before the announcement of the ECB, which took the market by surprise.
According to David Solin, Foreign Exchange Analytics in forex, the current rise of the euro is mainly due to profit taking by investors who seek only the short term. But according to economists, the economy of the euro area is threatened by intensified risks and uncertainties persist. Thus, the growth prospects for 2012 are likely to be revised downward, especially with the high tension in Athens.