European Session – Euro hits 8-month high after breaking $1.37
Posted on October 18, 2013 at 12:12 pm GMTThe euro broke $1.37 as it continued the rally against the broadly weaker US dollar. Concerns about the economic impact of the US government shutdown is weighing heavily on the greenback, as expectations are growing that the Federal Reserve will delay scaling back stimulus until 2014. The Fed’s current bond buying program is dollar-negative. However keeping stimulus is seen by investors as positive for the US economic recovery and consequently is lifting risk appetite. Adding to market sentiment today was [..]