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EUR/USD: Euro is still under strong pressure
The pair EUR/USD is traded downward at the Forex currency market on Wednesday morning, amid deterioration of external environment.
By 9.10 the Euro is at 1.3452 against yesterday’s closing level of 1.3530.
Investors continue to track the results of the auction of the European countries and the results are not inspiring: placement of Italy, Belgium and Spain this week has led to the rise in the yield of securities on all fronts. Spain continues to place its bonds today; it is going to offer the market debt securities with maturities up to 2022 in the volume of 4 billion euros. France will pick up the baton on Thursday.
As long as traders are not convinced that Eurozone can cope with the crisis, there is not going to be serious changes in the trend of the trades for the pair Euro/Dollar.
Most likely, the pair EUR/USD will not leave the range of 1.3390-1.3490 at the trading session on Wednesday.
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