Wednesday, February 17, 2010

Euro, 18 February 2010

Euro: The Euro follows suit and has also gained against the US Dollar overnight. EUR/USD traded fairly flat for most of yesterday after ZEW data came in less than positive, but not as bad as expected. The Greece situation still lingering would have had a play on this also. As we entered the US session the Euro pushed higher against the US Dollar and has continued to do so this morning. EUR/USD opens at 1.3781. Sterling a little lower against the single currency, but movement has stayed within 60 pips. GBP/EUR begins today’s session at 1.1466.

- I expect a range today in the GBP/EUR rate of 1.1420 to 1.1510

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