10, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Euro hurt problems of Portugal. The European Commission warned in its statement on Sunday that the failure to implement a program of Portugal austerity will lead to the cessation of financial aid in the future.

These comments came after the Supreme Court of Portugal ordered the need to reduce the package of austerity measures introduced by the program to the country. Portuguese Prime Minister Pedro Passos Coelho said that the government intended to reduce other costs in order to reduce the deficit.

The dollar index ICE, which displays the value of the U.S. dollar against other currencies, rose to 82.655 against 82.449 on Friday.

The dollar index WSJ, which uses slightly wider basket of currencies, rose to 73,931 from 73.71 on Friday.