Yesterday the Euro lost against the dollar in the afternoon when information
about the latest development in Iraq was published. At about the noon the
exchange rate EUR/USD reached the level of 1.0828 after it even touched
1.0914. At the end of the trading day the rate was at 1.0774.
EUR/USD development should depend not only on battlefield activities but
also on the ECB interest rate decision. The rate EUR/USD opened at 1.0771
today and should move in the range of 1.070 and 1.082.
Zdenek Safka, Investment Research, CSOB