Corporate foreign exchange news
Euro decline may impact foreign exchange dealers
Monday, 05 September 2011 09:07:40 GMT

Posted by Zeb BhamForeign exchange dealers may be impacted by the euro's decline versus the US dollar this morning (September 5th).According to Reuters, the single currency touched its lowest level since August 11th - $1.41367 - before settling at $1.4164, down 0.3 per cent on the previous day.The markets were impacted by the ongoing financial situation in the eurozone and information relating to jobs released to by the US Federal Reserve on Friday, reports the newswire.Commonwealth Bank in Sydney strategist Joseph Capurso stated the current situation is likely to remain until the middle of this week."Concern about high debt in Europe has resurfaced and those poor payrolls results certainly got people worried about the US economy and the global economy as well," he said.This follows recent comments to Reuters by BNP Paribas analysts suggesting that the euro could slip below the $1.41 - $1.45 range it has seen recently if the outcome of the European Central Bank meeting later this week is not viewed positively.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site



