Yesterday the euro moved in a narrow range against the dollar. In Europe the rate EUR/USD began at 1.1675 and closed at 1.1688. In American trading the trend reversed and the euro from 1.1685 closed at 1.1666. It opened at 1.1663 in Europe and should move between 1.1610 and 1.1710. American GDP and initial claims both released this afternoon may influence the rate. Moreover Mr. J.Snow, the US Treasury secretary, comments to the Senate banking committee on international economic and exchange rate policy might be of some interest to FX markets as well.
CSOB, Investment Research