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EUR/USD: Euro is still weak
The pair EUR/USD grows very slowly at the Forex currency market on Thursday morning, remaining under intense pressure from the market. By 9.12 Moscow time the Euro is at 1.2988 against yesterday’s closing level of 1.2981.
The reason for such aggressive sales was the position of the U.S. Federal Reserve in the closed meeting with representatives of Congress. In particular the Mass Media informed that Bernanke ruled out chances of granting additional aid to the European Banks.
Republican representatives in the Senate noted that Bernanke’s remark sounded like “I have neither authority, nor plans to provide financial aid to the countries and banks of Europe”. This information caused collapse of the Euro below the lows of January and closing level of the pair was 1.30, for the first time since 11 January 2011.
The day is going to be strenuous, as Europe will react to the opinion of FR. Most likely the pair EUR/USD will not go beyond the range of 1.2950-1.3050 at the trading session on Thursday.
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