Rabobank: euro / dollar reduction in waiting

The American currency has continued to consolidate in a couple of euros in an attempt to determine the direction for further movement, and, while the growth of new attempts by the euro / dollar should not be ruled out, Rabobank currency strategists say with great skepticism on the potential for upward movement pair. The bank noted that the market is maturing in the sense that the U.S. economic recovery will be significantly faster than in the euro area, and a confirmation of this point will have a positive impact on the dynamics of the dollar. In Rabobank also note that the theme of the new reserve currency is unlikely to kanet into oblivion, and the statements of officials of the desire for such development will continue to exert pressure on the American currency, but the bank believes that the effect of such statements will be limited. The bank expects that over time among market participants will increase awareness that the use of the dollar will gradually decline, but they believe that central banks are unlikely to restructure its current reserves and rather prefer to follow the path of passive diversification. At Rabobank, thus, expect that in the coming months the major driver for the market will question what kind of country, however, quickly begins to recover after the crisis, and here at the bank saw the potential to strengthen the American currency and the expected reduction in euro / dollar to $ 1.30 - $ 1.27 in the second half of this year.