On Monday the American currency started depreciating against the euro due to worries about terrorist attacks. The greenback broke the 1.18 limits but it returned back and strengthened in the afternoon. However, negative sentiment against the dollar remains and any worsening in Iraq or other terrorist attacks may weaken it. The rate EUR/USD opened at 1.1816 in the U.S. and closed at 1.1751. It was at 1.1765 this morning and should move between 1.1720 and 1.1820.
CSOB, Investment Research