Euro Rallies After Pledge By Euro Zone Leaders To Bailout Greece (ULE)

The euro has rallied in trading today after the euro zone leaders pledged €30 billion in loans on the weekend to bailout debt laden Greece. The sixteen nation currency was up 1% against the US dollar to 1.3628. On Friday, the ProShares Ultra Euro (ETF) (NYSE: ULE) closed 2.26% higher at $26.64.

The crisis in Greece has weighed heavily on the euro as it has seen a lot of selling pressure in the last few months. The new deal reached over the weekend should assist Greece in funding its short-term financing requirements.