World Economy

Euro Trading Lower

Euro Trading LowerEuro Trading Lower

For the 24 hours to 23:00 GMT, the Euro declined 0.87% against the US dollar and closed at 1.0884, as ongoing concerns about a possible Greek default with its international creditors weighed on the common-currency, reported. In the US, the consumer confidence index increased more than expected to a level of 95.4, indicating that the US consumers turned little more optimistic about the economy in May. In the Asian session, at GMT0300, the pair is trading at 1.0878, with the Euro trading 0.06% lower from yesterday’s close. The pair is expected to find support at 1.0842, and a fall through could take it to the next support level of 1.0805.