Yesterday the euro reached its three-month maximum per dollar at 1.1769. However, later in the morning it lost a part of its gains, likely as a result of Bank of Japan intervention, and closed at 1.1695. The rate EUR/USD opened at 1.1700 in American trading and closed at 1.1686. It moves at around 1.1698 this morning and should remain between 1.1660 and 1.1760 during the day. A set of statistical data from the U.S. to be released today may not influence significantly the rate. Weak data from labour market is expected and non-manufacturing PMI in Europe are usually more optimistic than their industry counterparts.
CSOB, Investment Research