Posted by Mark ThompsonThe euro was at $1.3445 in foreign exchange trading as of 07:00 GMT this morning (December 7th), up 0.3 per cent on the previous day.According to Bloomberg, the move was prompted by amid a belief that the funding available to eurozone nations trying to overcome deficit issues will be increased as European leaders meet in Brussels.Commenting on the situation, manager of the foreign-bond department in Tokyo at Mizuho Securities Co Kengo Suzuki said: "We are seeing a certain expectation in the overall market that European policy makers will take a step forward to resolve the debt crisis."A survey of analysts, conducted by the new source, indicated that between now and September next year the euro is expected to increase to $1.37 in foreign exchange markets.Standard & Poor's recently suggested that if European leaders fail to put together a plan to stabilise the region then a number of credit ratings may be downgraded.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site