Friday, July 10, 2009

The Euro Under Pressure

Analysis and Discussion with Ian Stannard of BNP Paribas (Bloomberg News)
The fall below $ 1.4080, as expected, resulted in a further weakening of the single European currency, now trading around $ 1.4065, to find some support in the area of $ 1.4045. Dealers, however, pay attention to the fact that the news about lowering the credit rating of Ireland was not helped to improve an already negative mood, and a foot below the $ 1.4045 to be in jeopardy. Currency strategists BNP Paribas, meanwhile, also saw the risk of continuing in the direction of the fall of the euro to $ 1.4000, while it should be noted that in the area of the figure is страйк major option and, while small orders for the purchase of stored near $ 1.4020, testing support at the $ 1.4000 is very likely.
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