In contrast to Tuesday's close of 1.1816 it opened at 1.1736. During
the trading session in America the dollar lost up to 1.1758 at the end.
Today the rate EUR/USD in Europe has started at 1.1756 and should stay
between 1.1710 and 1.1810. The movement of the American currency against the
last day's trend is explained by increasing stock markets, positive values
of consumer confidence and new house sales. Even the increase of another ECB
cut probability supports the euro weakening.
Zdenek Safka, Investment Research, CSOB