Euro today gained some ground vs the U.S. dollar on German ZEW economic sentiment indicator on the day that the EU Finance Ministers decide on European bail-out fund. The new Euro vs. Dollar exchange rate increases the confidence over the Eurozone economy as the European currency recovers its loses from the weekend trading. Around 9 AM GMT on Tuesday the euro was worth 1.3381 against the dollar. On Monday at 5PM GMT the Euro was trading at 1.3292. The green currency also lost ground against the Japanese Yen, trading at 82.52 vs. Monday night's 82.68. The U.S. markets were closed on Monday because of the holiday. This currency exchange rate fluctuation happening on the day that EU Finance Ministers meet to discuss the expansion of emergency bail-out fund shows that the currency markets are seeking guidance. Yet, the Finance Ministers, meeting in Brussels on Tuesday, were not able to give that guidance. They were hesitant on how to proceed about the emergency fund expansion. However, it seems that there is a strong commitment and understanding on the necessity of this type of fund's expansion. Jean-Claude Juncker, the Luxembourgish prime minister and the chair of the euro group of countries tells EU Observer that they are going to respect the commitments made in May 2010. "We are looking into the different instruments we can press into service in order to do that." In the meantime the Euro also rose against the British Pound. While the British currency progressed against the dollar it fell slightly vs Euro and was trading at 83.84 pence per Euro at 9 AM GMT on Tuesday morning.

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