Euro Rises On Temporary Measures

In a much needed effort to stem recent declines in the Euro, the European Central Bank announced coordinated action with several central banks of industrialized nations. Not to worry, it wasn't a spot currency market intervention. Instead, central bank officials announced that US dollar loans would be available to European lenders in the next three months – or till the end of the year. The announcement couldn't have come at a better time. With the euro falling by about 7% in the last two weeks, the single currency needed a boost. Read the article here - http://forexalliance.com/2011/09/euro-rises-temporary-measures/