12:24 EDT - Expect the euro to rise to $1.27 this week, Wells says.
The common currency would rise on potential action from the Fed or the
European Central Bank, says Wells Fargo's Vassili Serebriakov.
Although Wells Fargo does not expect the ECB to shift policy at its
meeting Thursday, "they might make hints for more action, which could
be sufficient for the markets to continue improving," Serebriakov
says. For now, the euro is lower against major currencies as optimism
began to unwind from ECB President Mario Draghi's pledge last week to
do whatever it takes to save the currency. Euro trades at $1.2251,
down from $1.2322 late Friday. (nicole.hong@dowjones.com)
(END) Dow Jones Newswires
July 30, 2012 12:24 ET (16:24 GMT)
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