Thursday, October 8, 2009

Wells Fargo expects further decline of the dollar

Analysts said Wells Fargo, the weakening U.S. currency will continue, despite the comments, ECB President Jean-Claude Trichet in support of a strong dollar. As noted in the bank, these comments do not contain anything new and unlikely to lead to a reversal of the current downtrend of the U.S. currency. Meanwhile, the euro / dollar, apparently, is going to test the highs reached earlier in the area of $ 1.4801 - shares in the stock markets again started to rise, increasing the "risk appetite". Stops are marked above the area of $ 1.4805/10, Offer located on the approach to the maximum of 23 October $ 1.4845. Euro / dollar at the moment is on a mark 1.4785.

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