The euro continued its march higher against the dollar and touched the 1.18 levels. The greenback suffers from unstable development in Iraq. The euro was supported also by European GDP news and American trade deficit released yesterday.
Today we expect positive macro data from the U.S. common with profit taking from previous euro appreciating. However, negative fundamental values may attack 1.19 limits. The rate EUR/USD was at 1.1777 this morning and should stay between 1.16 and 1.19.
CSOB, Investment Research