Euro climbs heavily on bright outlook of European deficit

09 February 2010 @ 06:04 am EDT

The dollar is sliding in the markets versus major currencies as there are anticipations in the markets that the European officials will meet on the 11th of February to discuss new way of supporting Greece to narrow its budget deficit which stood at 12.7% of last year's GDP, therefore reducing the appeal of the dollar in the markets. The Dollar Index, which usually measures strength of the dollar versus six major currencies, is currently traded at 80.13 while recording a high of 80.44 and a low of 79.99.

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