Tuesday, July 7, 2009

ZKB: G8 summit will help determine the direction of the dollar

The pair dollar / franc dropped to a maximum level at 1.0910. According to analysts of Zuercher Kantonalbank, the dollar / franc expects a further decrease. The future status of the dollar remains uncertain, the recent controversial statements by Chinese officials also did not add clarity to this issue. Group of Eight summit to be held July 8-10 in Italy, may be somewhat clarified the situation and help determine the future direction of American currency. At the moment, a pair of dollar / franc traded at 1.0820 area.

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