Foreign currencies have continued to scale the charts of volatility. The Euro/USD slipped to a further low of 1.2960. This also lowers the exchange rate which continues to fall further, given the problems the bank faced in U.S and Europe. Both the continents are trying to work up confidence with investors and trying to turn around the business market. With a tethering economy and at all time low consumer confidence, investing and bank credit still continues to be in a precarious condition. It is almost like being in a quagmire, one wrong step and you start to sink in slow motion.
The European Central Bank has been working on different grounds and taking steps to build back investor confidence. Given the chance of a crawling recovery, the banks still hope to see an inching turnaround. In Europe the GDP shows low of .3 percent as against the forecasted .4 percent. Unemployment continued to be at an all time high of 10.1 percent. The British bank also recovered marginally from a low of 1.5405 during the trade.
Given the world currency trend U.S.D continued to be volatile, with the USD/JPY climbing the ladder with 83.58. It has said that the dollar would continue to be as volatile as before due to the North American trade as the graphs of economic growth continue to be fluctuating, rather than maintain stability. However, a ray of sunshine through the long overcast is that the employment rate has marginally decreased to a 9.7 percent from whopping 9.8 percent an all time high. However, this boost could be attributed to the influx of temporary workers given the retail boom during the holiday season. With the New Year, it is being hoped that the economy would inch its way to a better stand, than being in the obscure dark.