EUR - EUR Lower vs. Major Currency Pairs

December 24, 2010 1:46 PM GMT

The EUR stayed in a tight range versus the U.S. dollar Thursday; the common currency remained down for this week, heading toward an 8.5% decline for the year. In June, it fell under $1.20 for the first time since 2006.The euro fell to a record low versus the Swiss franc, reaching a low of 1.2553; however, it has since rebounded slightly, currently trading at 1.2573.

The U.K. pound strengthened versus the EUR and USD after a Greek newspaper reported officials and bankers have decided on a debt restructuring plan to begin after 2013. The GBP rose to 85.04 pence per euro from 85.14 pence yesterday. The sterling gained to $1.5440, from $1.5386 yesterday, when it reached $1.5356, its weakest level since September.

With market volume and liquidity at a quarter of its normal volume, sharp moves in the currency pair may be expected.

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