EUR/USD settles around 1.4230/50 as a highly volatile week comes to an end. The pair swung erratically throughout the week as news and fundamental data hit the markets among which are worth noting, rumors about a downgrade to France, a collapse on the stock markets and a temporary short-selling ban on financial shares imposed by some European countries, zero rates in the US until mid-2013 and ECB intervention on the bond markets.
On this backdrop, EUR/USD moved between a high of 1.4425 at the opening and a low of 1.4103 on Thursday, where the aftermath has left the Euro around 1.4240 on track for a third consecutive weekly loss versus the Greenback, this time for 1.28%.
Regarding next week forecast, Ilian Yotov, FX strategist at AllThingsForex, said, "The EUR keeps fluctuating within its range, but could attempt to break above it on QE3 expectations, or below it if the EU debt crisis continues to rattle the single currency."
On this backdrop, EUR/USD moved between a high of 1.4425 at the opening and a low of 1.4103 on Thursday, where the aftermath has left the Euro around 1.4240 on track for a third consecutive weekly loss versus the Greenback, this time for 1.28%.
Regarding next week forecast, Ilian Yotov, FX strategist at AllThingsForex, said, "The EUR keeps fluctuating within its range, but could attempt to break above it on QE3 expectations, or below it if the EU debt crisis continues to rattle the single currency."
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