Euro second day grows on statistics from Germany

Euro second day grows on statistics from Germany

The euro rose
today in European trading to $ 1.10,
but now (to 17.30 MSK) again rolled
to the level of 1.0971. On Wednesday, the driver lifting
the single currency again, like yesterday, was
Germany. Today came here optimistic
data on business sentiment that
added optimism to investors for
economic recovery in the euro area.
IFO indicator for March
It was higher than the consensus forecast and
It showed the strongest value for
the last 8 months.

but traders
predict that the 1,1-trillionth
QE program launched
ECB in March, most likely, will put pressure
the single currency and will not let her go
in a long rally.

“The German data
certainly encouraging, but I do not think
they will change much in the fate of the euro
in the near future “, – he says
Peter Kinsella, currency strategist
Commerzbank. – “ECB started
print money, and upward movement of the euro
– a temporary phenomenon. I doubt that
these his achievements will be saved. ”

Meanwhile
investors cut long positions
dollar after the “dovish” Fed speeches
last week, the currency moved away from
multi-year highs, and continues to
slowly go down. At 17.39 MSK pair
USDJPY fell to 119.59?,
GBPUSD
rose to
1.4872.

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