Which Currencies are Overvalued and Undervalued?
There have been a lot of big swings in the currency market over the past year. Eight months ago, the EUR/USD was trading at a record high of 1.60 and now it is only few cents away from its 3 year low.
Euro Holds Support at 1.2700 As Data Proves Positive
The euro consolidated near the 1.2700 figure in early European trade boosted by better than expected German Consumer confidence numbers while pound tried to shrug off RBS news which reported the largest corporate loss in UK history and announced that the government may take up to 95% stake in the company.