Barclays Capital reserves forecast for the euro / dollar exchange rate stable

Barclays Capital will not abandon the neutral forecast for euro / dollar

In brief: Euro stops growth against the dollar. Barclays Capital sees new risks.

Euro / dollar continues to enjoy strong demand, however, currency analyst at Barclays Capital believe that this is not enough to abandon the neutral projection pair.

According to the bank’s strategy, the basis for revising the outlook can only be a day closure of the euro / dollar above 1.2785 level, which will open the way to further upward movement to a mark 1.3250. But before that happens, the bank retain a top-down goal in a pair of 1.2480/50. At the moment the euro / dollar is at around 1.2787.

Ukrainian Globalist
2010-07-18 15:05, Currency news.

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