On Tuesday the euro kept just below its previous day's heights and did not try to reach other records. However, neither positive data from the U.S. supported the greenback. We see Eurodollar markets to be quiet temporarily, but the trend for euro strengthening remains.
The rate EUR/USD was about 1.2315 this morning and should stay between 1.2270 and 1.2370.
CSOB, Investment Research