After a few days of USD appreciating against the euro, the EUR/USD trend
changed. Positive news from Iraq returned investor's focus on economic
development. And speculations about the American economy tend against the
dollar.
Yesterday the rate EUR/USD started with the dollar appreciating from
1.0710 to 1.0645, but the trend changed in the afternoon and the American
currency closed at 1,0720. This morning the rate opened at 1.0757 and should
move in the range of 1.0700 and 1.0800. No important macro data are
published today.
Zdenek Safka, Investment Research, CSOB