On Monday the euro depreciated below the 1.18 levels against the dollar, as if markets forgot global risks and protectionism worries for a while. However, we are afraid that any influence of positive macro data might vanish very soon. The greenback appreciation is week and the single currency has not lost its attractiveness. Yesterday the rate EUR/USD began at 1.1914 and closed at 1.1781 in Europe and the dollar went on strengthening to 1.1768 in the U.S.
It was at 1.1792 this morning.
CSOB, Investment Research