The strengthening Euro is only temporary

JAKARTA . The euro began in June with pretty good . The European Union's currency climbed for three days , after touching its lowest level over the weekend . G -7 meeting that discussed the European debt crisis into a positive sentiment for the Euro .

Lee Wai Tuck , Currency Strategist Forecast Pte in Singapore say if any new measures tackle crisis in Europe at the G -7 would be a positive sentiment . Consequently, the euro rose 0.2 % against the U.S. dollar ( U.S. ) to 1.2524 at 12:28 am Tokyo time , from the previous close of U.S. $ 1.2499 in New York . While against the yen , the currency of 17 countries rose 0.2 % to 98.10 yen .

Over the last six months , the euro has weakened as much as 3.4 % . Correaltion - Weighted Indexes Bloomberg said this is the worst weakness than 10 currencies of developing countries . While the U.S. dollar rose 4.1 % and the yen has appreciated 3.4 % .

The exchange rate movements , it had anticipated the financial crisis in Spain and the potential that the Greek leave the euro zone . Nurul Nurbaeti , an analyst at National Bank Indonesia , said the strengthening of the euro over the last three days is a technical rebound from a technical reversal alias . Because the euro has weakened sharply , so look for a new balance .
In addition, the sell euro currency also tends to persist so that it tries to rise. "If the euro can survive at the 1.25 level could continue to rise . But if it stays below that level, the downward trend will likely continue to happen , " Nurul guess .

G7 meeting is also projected to determine the direction of the next European conditions . Because the meeting will discuss the crisis in Europe . If the meeting there are concrete solutions to overcome the debt crisis in Europe could continue the strengthening of the euro . "Before the crisis of Europe was discussed at a meeting of the G8 and EU , but no concrete solutions . If G7 is also no solution then the euro is still a big pressure , " he said .

RT Kawengian Apelles , Monex Investindo Futures Analyst predicts euro will still be depressed and yesterday only a temporary strengthening .(kontan.co.id)