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EUR/USD: Euro is strengthening in anticipation of European initiatives
The pair EUR/USD is traded slightly upward at the Forex currency market on Wednesday morning.
By 9.00 Moscow time the Euro is at 1.3419 against yesterday’s closing level of 1.3399.
Players are buying the Euro in anticipation that initiatives of European monetary politicians in resolving debt problems of Eurozone will be efficient.
There was information in the market today that representatives of European countries can address the EU summit, which will begin tomorrow, with the idea of another mechanism of support, European Stability Mechanism, which can operate in parallel with EFSF.
In general, investors are focused on expectations of the final of the week, as important events are going to take place then, which are ECB meeting and the EU summit.
Most likely the pair EUR/USD will not go beyond the range of 1.3390-1.3450.
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