Euro Losses Continue
June 29, 2010 by admin · Leave a Comment
Classic risk off trading saw EUR/USD falling to 1.2150 before stabilizing. We see euro losses continuing, and next key level is 1.2110, break of which would target the year’s low at 1.1877.
Weak China data was followed by very weak U.S. consumer confidence report, and markets are nervous about the expiry of ECB’s one-year lending facility.
