Corporate foreign exchange news

Euro down in forex trading ahead of G20 meeting

Friday, 04 June 2010 09:01:24 GMT

Published by Mark Smith-Halvorsen
The euro was down in foreign exchange trading this morning (June 4th) as the latest meeting of G20 finance ministers got underway in South Korea.
The single currency moved lower against the dollar in the Asian trading session as investors anticipated that upcoming US payroll data would demonstrate further stabilisation in the domestic job market.
Forex Hound reports that with a lack of new developments in the eurozone, foreign exchange brokers were returning to fundamentals.
The health of the eurozone economy will be a key concern during the latest G20 talks, and finance ministers from the world's largest economies are set to give their backing to the €750 billion bailout package to ease its current debt crisis.
Speaking to the BBC, Sakong Il, chairman of the presidential committee for the G20, commented: "Regarding the current crisis, the G20 is very vigilant on developments and supports the initiatives made by the EU and the IMF to remedy the problem."
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