The forex currency exchange market was volatile today, according to surveys conducted by Best Syndication (see charts below).
Euro.
The Euro finally gained against the dollar after 14-month lows. Chaos in the U.S. stock market and a solution to the Greek debt crisis may be on investor’s minds.
Germany’s Parliament approved a EUR22.4 billion bailout for Greece. German citizens have been resistant and very vocal against the bailout.
The total EU package will be EUR110 billion.
Free Real time stock quotes Early in the day the dollar was gaining on the Euro but later in the day our second survey found the Euro finally moving in the upward direction.
Yen
The Japanese Yen was moving ahead of the dollar and then later fell back, according to our two surveys. The yen had been advancing against the dollar all week.
British Pound
The close election in election in Britain added to the volatility today. There was no clear winner in the yesterday’s general election and the U.K. pound was down .27 percent compared to the dollar today.
Swiss Franc
The Swiss Franc (CHF) was down .34 percent compared to the dollar today. Swiss Economic Minister Doris Leuthard told Bloomberg today that the Swiss franc must stay within a “certain limit,” and the central bank will continue to curb the currency’s advance, at least for the time being. If the Franc becomes too strong against the Euro it will affect tourism and exports from the country.
Australian Dollar
The Australian dollar and the New Zealand dollar both rose against the Yen on Friday. Some traders believe that New Zealand’s central bank will raise interest rates in June.