The euro opened at 1.1430 against the dollar on Monday. It went on weakening
to 1.1400, but the trend changed in the afternoon and the euro wiped out
losses. In the U.S. the rate EUR/USD opened at 1.1435, later the dollar lost
and closed at 1.1514 first of all due to a negligible increase of Chicago
PMI index. Today the rate EUR/USD opened at 1.1530 in Europe and should move
between 1.1490 and 1.1570. The rate could be influenced by European indexes,
which are released today. Most of them should increase and might support the
euro.
Zdenek Safka, Investment Research, CSOB