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Euro/USD: Euro is going to wait for the outcome of Trichet’s press conference
The pair EUR/USD is traded upward at the Forex currency market this morning after downward rebound yesterday
By 9.00 Moscow time the Euro is at 1.4367 against yesterday’s closing level of 1.4328.
Yesterday’s correction was triggered b y the Greek news- earlier agency Moody’s downgraded the country to CAA1, which is a speculative rating with a “negative” outlook.
However the market recovered quickly from this news because American statistics was disappointing again, which was unfavourable for the USD.
Today investors will await the outcome of Trichet press-conference in order to come to conclusions regarding further actions of the regulator in regards to the rate.
Most likely the pair EUR/USD will not go beyond the range of 1.4240-1.4610 at the trading session on Thursday.