The
reason is in expectations of FOMC decision. But UBS reported that it saw the
largest net outflow of foreign capital from the U.S. since the aftermath of
the September 11 terrorist attacks. Therefore the recent dollar rally could
be very short-lived.
On Monday morning the rate EUR/USD opened at 1.1582 and
closed at 1.1524 in Europe. In the U.S. the pair opened at 1.1545, it
reached its minimal value of 1,1508 before midday and closed at 1.1553.
Today the rate EUR/USD started at 1.1551 and should stay between 1.1510 and
1.1590.
Zdenek Safka, Investment Research, CSOB