The rate EUR/USD is now under two different influences. The dollar is threatened by possible terrorist attacks, the euro is pushed down by possibility of rate cut. Yesterday's weak industrial production data and low inflation data supported these ideas. Others economical data that are expected will be probably rather worse than better. The rate will be very volatile during the day; we expect the rate to fluctuate within 1.2200-1.2320 EUR/USD.
CSOB Investment Research