Euro breaks support level on geopolitical tension

JAKARTA: Increasing geopolitical tension in Korean Peninsula worsened pressures on currencies, particularly euro in its trading against US dollar.
News Editor
News Editor - Bisnis.com 20 Desember 2010  |  12:19 WIB

JAKARTA: Increasing geopolitical tension in Korean Peninsula worsened pressures on currencies, particularly euro in its trading against US dollar.

PT Monex Investindo Futures, a futures company, quoting Citigroup said that the heightened tension between North Korea and South Korea put higher pressures on currencies. This afternoon, a witness said to hear an artillery firing on South Korea's Yeonpyeong Island.

"Euro and pound sterling are among the worst performers during last week and the condition persists this week," said Citigroup.

Euro which was badly hit with the downward revision on Ireland's rating by Moody's Investors Service last Friday finally touched the support level at US$1.3100-US$1.3090, retracement level and MA 200-day. (NOM)

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Editor : Muhammad Fariz Aulia

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