Thursday, April 16, 2009

Bank of America predict new euro loss

The ability to refrain from strong euro break below $ 1.3150 encouraged by the bulls in an attempt to counter, but a pair of re-growth was used for sales and the beginning of the European session, she returned to yesterday's level. Dealers noted that, in general, against the single European currency is still prevalent negative mood, and see the risks of testing a key support of $ 1.3115/00. Negative assessment, however, adhere to, and Bank of America - Merrill Lynch. Currency strategist Stephen Pearson company notes that investors do not exhibit a noticeable demand for the euro in recent and not very positively evaluated the prospects for further development of the situation in the euro area economy, which may result from a rigid position on the ECB's management, which pulls the new measures to support economy. At Bank of America - Merrill Lynch still bears on the euro / dollar, and adhering to the forecast for the end of the quarter at $ 1.28, expected return of a pair to $ 1.24 by the end of September, and further drop to $ 1.18 by the end of the year.

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