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EUR/USD: Euro was given rise to panic again
At the Forex currency market the pair EUR/USD is traded slight lyupward on Monday morning, although it is still close to critical levels.
By 9.45 MSK the Euro is at 1.2704 against s closing level of 1.2720 on Friday.
Today the pair has already gonebelow the level of 1.27 and reached local lows at 1.2665. News is also unfavourable for the pair: representative of IMF Mr. Blanchard did not rule outtoday that Europe can sink into recession again, which has intensified riskaversion.
A meeting of President of France Nikolas Sarkozy and Chancellor of Germany Angela Merkel will launch at the beginning of the week; parties plan to discuss number of steps to increaseeconomic integration in Europe.
Meanwhile, investors are clear lynot inclined to trust anti-crisis plans of European Union.
Most likely the pair EUR/USD will not go beyond the range of 1.2630-1.2750 at the trading session on Monday.