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EUR/USD: Euro is pushed up by market expectations
The pair EUR/USD grows at the Forex currency market on Tuesday morning.
By 9.35 the Euro is at 1.3364 against yesterday’s closing level of 1.3309.
It seems that investors ignore the news about ratings: yesterday agency Fitch reported worsning forecast of the U.S rating to “negative” and this morning Moody’s did not exclude downgrade of ratings of 87 banks in 15 countries of Eurozone due to general weakness in the financial sector. Agency believes that if fiscal situation deteriorates, banks cannot expect to receive aid from governments.
However, positive sentiment in the market is supported by expectations that on Tuesday Finance Ministers of the countries in Eurozone can approve new scheme of expanding EFSF fund. It is possible that the issue of granting tranche to Greece will also be considered. Thus, Eurozone remains a newsmaker of the day.
Most likely the pair EUR/USD will not go beyond the range of 1.3305-1.3390 at the trading session of Tuesday.
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