0744 GMT [Dow Jones] The euro is settling into an orderly bear trend,
and the very recent weakness in the currency looks like a function of
the ECB's policy measures announced last week, according to ING
currency strategist Chris Turner. "We believe the deposit rate cut and
lower overnight were designed to weaken the EUR," he says. EUR/USD
should drift towards 1.15, he adds, but highlights the risk coming
from further QE from the Federal Reserve. EUR/USD is at
1.2194.(eva.szalay@dowjones.com)
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(END) Dow Jones Newswires
July 13, 2012 03:44 ET (07:44 GMT)
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