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EUR/USD: Euro dipped to the lows of January
The pair EUR/USD is traded downward at the Forex currency market on Wednesday, still being under strong pressure.
By 9.15 Moscow time the Euro is at 1.3028 against yesterday’s closing level of 1.3027.
Yesterday’s collapse was caused by the opinion of German Chancellor Angela Merkel who said that she is against the idea of increasing upper permissible level of lending by using facilities of ESM and a new fund which will be launched six months later.
The U.S. Federal System left everything unchanged: interest rate was kept in the target range of 0-0.25% per annum, however FR did not dwell on the issue of increasing transparency of its work, putting off discussion until better days.
The day is going to be strenuous largely due to the situation in the EU where rating agencies became very active again, adding oil into the fire.
Most likely the pair EUR/USD will not go beyond the range of 1.2990-1.3090 at the trading session on Wednesday.
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