GO
Loading...

Euro Rising on Inattention, Analyst Says

Monday, 21 Mar 2011 | 5:36 PM ET
One euro and U.S. dollar
AP
One euro and U.S. dollar

Think the euro's strength today reflects some newfound bullishness about the currency, or a heightened appetite for risk? Think again, says Ulrich Leuchtmann, Head of FX Research at Commerzbank.

"A lot of analysts at the moment are interpreting the up move in euro dollar as a huge surge in risk appetite. But I'm not sure about this interpretation," he told CNBC.

Rather, he said, all the upheaval in Japan and Libya is distracting traders.

"The market is a little bit forgetting about the problems in the eurozone at the moment," he said. But with meetings in Brussels later this week, traders may not stay distracted for long.

Watch the whole interview right here.

EU's Debt Crisis Overshadowed by Japan, Mideast
Events in Japan, the Middle East & North Africa have overshadowed Europe's sovereign debt crisis, says Ulrich Leuchtmann, Head of FX Research at Commerzbank.

MULTI CURRENCIES v The Dollar

Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm.

"Money in Motion Currency Trading" repeats on Saturdays at 7pm.

Featured