We start the week with USD weakness permiating through currency markets while the EUR strengthened on the back of expectations for Thursday’s ECB interest rate meeting.
The EUR/USD pair reversed its losses from Friday, showing us that the slide from 1.3830 to 1.3715 may have been more a case of Friday
The EUR/USD was under mild pressure once the equity markets opened in Europe with simmering financial markets concerns. The daily ECB borrowings showed a surge to its highest level since 2009 at 815.8B with dealers surmising what bank was forced to borrow from the ECB. Adding to financial concerns was
Although the single currency recovered last week to 1.3745 (we suggested to sell euro at 1.3700 for 1.3500), euro did meet renewed selling interest there as expected and slipped from there to as low as 1.3497 last Friday (met our indicated downside target at 1.3500 with 200 points profit) and
