Need To Know News

EUR/USD has slipped to trend lows under 1.5390, though is reportedly running into sovereign backed bids under the figure. With U.S. equities set to open well under water, and oil prices up nearly $2/bbl, traders will be reluctant to buy dollars aggressively, so we suspect further EUR/USD losses will be limited from here. Sell-stops are noted under 1.5340, but appear to be out of reach fro now.

This entry was posted on Thursday, August 7th, 2008 at 9:29 am and is filed under FX. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.