The Euro lost against the dollar yesterday. The reason consisted again in
expectations that today's data in the U.S. should indicate an increasing
economic activity. In Europe the rate EUR/USD began at 1.1434 and moved in a
range of 1.1428 and 1.1450 in the morning. At about midday the euro started
weakening and closed at 1.1391. It opened at 1.1396 in the U.S. and finished
at 1.1356. Today it opened at 1.1334 and should stay between 1.1280 and
1.1370. The rate might be influenced by statistical data released at 12
o'clock in Europe and that of the U.S. released in the afternoon.
CSOB, Investment Research