In the News: CNNMoney

The recent movements in the euro are mostly caused by mood swings, portfolio manager Axel Merk tells CNNMoney

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"[ECB President] Draghi has been very up front about doing all he can to help the banks," said Axel Merk, president and chief investment officer of Merk Investments, noting there's generally been an upbeat mood so the pullback [of the euro] isn't too much of a surprise.

But that doesn't mean it's time to break out the champagne. 'The problems aren't gone,' he said, but the recent gyrations [of the euro] are 'mostly about the mood swings that have been happening.'

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