The euro erased its losses from previous days on Friday; even more positive increase of the Uni of Michigan confidence index could not help the greenback. The currency pair EUR/USD began at 1.1597 on Friday and the single currency fell back to 1.1547 in the morning. However, the euro reversed its slide and closed at 1.1674. In the U.S. trading session the rate began at 1.1578 and closed at 1.1678. The rate EUR/USD was at 1.1696 in morning's trade and should move in a range of 1.1620 and 1.1720. No important macro data are to be released today.
CSOB, Investment Research