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Forex: Friday’s review
On Friday the euro rose for a second day against the dollar on speculation that Spain is close to what will request financial assistance. Also, the euro rose as the EU statistical office in Luxembourg said that industrial production in the eurozone unexpectedly increased in August by 0.6%.
Later, the single currency fell as Reuters reported that the European Stability Mechanism is not enough money to rescue Spain if the country asks for help before the end of the year. However, analysts say that the fund has the right to collect the money from the sale of fixed income securities.
Dollar rose after the published data showed that consumer sentiment index jumped to 83.1 from the final level of the value in September - 78.3. As it became known, the October index is the highest since September 2007.
The Australian dollar fell against all 16 most-traded currencies amid falling stock markets in the U.S. and Europe.
The yen fell against the dollar amid signs of U.S. economic recovery, reducing demand for safe-haven.
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