The UK pound can’t seem to gain the upper hand against the euro today, even though the eurozone remains in turmoil.

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With the world economy looking a little better, with help from the latest news out of the United States as well as earlier news from China, optimism is driving interest in risk assets like the euro.

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Euro is getting a boost today, thanks to improved hopes and expectations for the eurozone. The ECB made its interest rate announcement today, and that has calmed Forex traders to some degree, and boosted the optimism toward the 17-nation currency zone.

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For weeks now, eurozone leaders and others have been waiting for Spain to ask for a bailout. Spain has even been encouraged to ask for a bailout. But the country’s leaders have been reluctant. Now, it looks as though Spain might be ready, and the euro is heading higher as a result.

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Euro is recovering today, and moving higher, after earlier lows against the US dollar. Concerns about the eurozone have melted away as risk appetite makes an appearance, and as the US dollar and other low beta currencies turn lower.

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