During Tokyo trading, the euro fell to the low 1.16 level as U.S. long-term interest rates slowly went up. In the European market, worries about politics in France and then the Netherlands pushed the euro down further to 1.1575. Later, when U.S. interest rates went down, the euro rose again to 1.1642, close to the Tokyo high.
The euro selling caused by political worries in France and the Netherlands only had a short effect, and then the market became more cautious.
On the other hand, distrust of the Federal Reserve Board (FRB)’s independence continues to cause dollar selling. Because of this, the euro is expected to stay strong for a while.
Expected Euro-Dollar Range: 1.1580 – 1.1660 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.