Euro exchange rate is doomed to fiasco

The exchange rate euro will not grow until the end of the week

In brief: Euro shows no signs, that may give hope to the bulls. Euro continue to fall on all currency markets. Experts have no hope.

The exchange rate euro is not ready for war with the dollar. The European currency was trading today against the U.S. dollar is close to the minimum values for 4 years. Strategists Bank of New York Mellon Corp. London expects a single currency will experience a further decline, as today’s meeting of finance ministers of European countries, probably would not have a positive impact on the mood of the market.

The expectations index of German investor and analyst, published by the German research institute ZEW fell more expected to decrease from 53 in April to 45.8 in May. EC Commissioner for Economic Affairs and Finance, Olli Rehn, assured markets today is that only countries with high budget deficits, such as Spain and Portugal will carry out budget cuts. According to the European authorities, Greece received today the first part of financial assistance. The funds will be used to repay bonds worth 8.5 billion euros ($ 10.6 billion), the maturity of which expires tomorrow.

Ukrainian Globalist
2010-05-18 15:22, Currency news.

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