Tuesday, July 12, 2011

HSBC: Euro’s decline could be much Stronger

Analysts at HSBC note that as the negotiations of US government and the lawmakers on the debt ceiling increase gave reached a deadlock the greenback doesn’t surge versus euro undermined by the debt crisis as much as it could have.

The specialists claim that euro’s fair rate is found at $1.25.

The pair EUR/USD fell today breaching the 200-day MA at $1.3908 and hitting the 4-month minimum at $1.3837.

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