On Friday the euro moved in a range of 1.2377 and 1.2405, therefore it could
be called as exchange rate stabilization. Positive American economic data
supported the greenback. However, the risk of terrorist attacks against the
U.S. might play its role again and might threaten the dollar and the range
of 1.2350 and 1.2450 could not be sufficient. The rate EUR/USD is about at
1.24 this morning.
CSOB, Investment Research