Online Forex traders at eToro and other sites across the internet have been keeping a keen eye on events in both Cyprus and Italy today, especially if they’ve recently bought EUR/USD positions. This is because, in the midst of a woeful run for the single currency, pressure for the euro has been further compounded by the requirement of a bailout for the Cypriot economy and political unrest in Italy. However, even though the EUR/USD currency pair hit a four-month low during early Thursday trading, the euro ended the day with a flourish, actually finishing marginally up against the US dollar when the London trading session closed.

Earlier today, the banks in Cyprus opened their doors to customers for the first time in weeks and, even though a €300 euro per day limit is in place to avoid a run on the banks and further economic pressure, the opening of the banks has been seen as a good sign, even if there’s still massive uncertainty regarding Cypriot’s money.

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