The EUR/USD rate started at
1.0683 and finished at 1.0656 in the late afternoon. The hypothesis, that
any slowdown on the gulf battlefield should depreciate the dollar and help
the euro, has not been true. Today the rate EUR/USD opened at 1.0657 and is
expected to move between 1.0580 and 1.0700. The common currency weakened
against the yen. It started at 128.43 and finished at 128.10.
Stepanka Kuzilkova, Investment Research, CSOB