This morning the euro passed the 1.29 level and reached its historical maximum at 1.2930. The dollar was not supported by the inflow of funds to the U.S. released yesterday, but markets got signals from ECB that it does not want to intervene. If ECB keeps its politics, it is very likely that the euro goes on strengthening to new maximums. The rate EUR/USD has moved at around 1.2915 this morning and should stay between 1.2870 and 1.2970.
CSOB - Investment Research