On Friday the euro was traded in a wide range against the dollar. It started strengthening after the poor trade deficit data and the Uni Michigan confidence index were released. The rate EUR/USD then approached its historical maximum at 1.2899. However, the market was volatile and after speculation that ECB might intervene took profits. Today President's Day and worries from ECB actions may influence the market. It can be volatile again and choose wait and see tactics. The rate EUR/USD should move between 1.2690 and 1.2790 today.
CSOB - Investment Research