Greece causing Euro (EUR) to drop against US Dollar (USD)
While most major economies are trying to revive themselves from the financial crisis which shocked the world in Oct 2008, another mini-crisis occurred recently when President Obama mooted plan to further control and constrict major financial institutions (Banks and Hedge funds) for reaching a critical size that will enable them to weld substantial market influence.
Another spanner was thrown by Greece recently, howbeit it only affects the Euro zone.
One of the countries in Europe which had already adopted the Euro as the national currency, Greece financial stability came under scrutiny recently due to concerns if the Greek government can actually pay off the national debt and guarantee the levelling of government bonds.
Things cumulated into a jittery forex trading market on 28th Jan 2010 when a sell-off of Euro began, enabling forex traders who punt on the US Dollar smiling all the way to the bank (more…)
