The euro rose against the U.S. dollar in the Asian trading session, after falling on Monday to its lowest level in one week, caused by growing concerns over Spanish debt and the government's stance of non-interference in assistance. In addition to this should be taken into account that there is a sense of confidence of German companies, which increased investor fears of slowing growth in the euro zone. Readings have been the IFO business confidence for the month of September lows for more than two years, suggesting that the European Central Bank's efforts to restore confidence has not yet made any effect.
Their fears a Greek also absent from the focus, with the publication of a statement that the Greek budget deficit was higher than expected in the past, also published the German newspaper Der Spiegel estimated deficit 20 Billiar euros, and this double what many think. While there was no confirmation by Greek officials yet, but this is enough to make traders in the market feel jittery, and the validity of the data can put a lot of pressure on the single currency.
As reported from Tokyo at 1:26 (Japan time), trading the EUR / USD at 1 $ 1.2944, up overnight from $ 1.2891, but also outside the top 4-months hit last week. Support is at $ 1.2827, and the pair enters its 200-day moving average average.
