Who in Forex is Buying Euro

With nothing but negative news coming out of the Euro Zone it is absolutely ridiculous to see the Euro penetrating moving averages to the upside and still holding its value against USD and other pairs. Who in their sane mentality would purchase a currency that has a bucket filled with problems? The big player in this market seems to be China. China recently outwardly announced an agreement to purchasing the euro zone’s sovereign debt. This is being done with hopes to alleviate the debt crisis. Oh how ever unlikely this seems. Even legendary investor George Soros indicates that the debt crisis is too much to handle. In reference to the idea that a mechanism is going to be put into place to allow weaker countries the ability exit the Euro Soros said is “probably inevitable”. If the euro zone is in such a jar of pickles then why in the world would the Euro be purchased. Perhaps it is more than necessary for China to keep the Euro afloat so that its products are bought by the Europeans.