The euro exchange rates today: risks and prospects – Wells Fargo

Dollar exchange rate is falling against the single European currency.

In brief: The euro exchange rate stabilized against the reduction of risks, - Wells Fargo.

The euro exchange rate started to rise from the bottom. After seven months of nonstop decline of the euro / dollar, finally, closed with a surplus in July amid falling concerns about the crisis of European sovereign debt and the extent of its influence on the global recovery.

Last month the dollar has fallen in price against all major currencies, partly because the words of Fed chairman that “prospects for the U.S. economy remains uncertain.” “Reports from the European data are surprisingly strong, while the second half in the United States promises to be difficult”, – said Vasily Serebryakov, currency strategist at Wells Fargo in New York. – “At present, the market expects the Fed’s next steps in the direction of quantitative easing if the economy continues to decline. It is these expectations are the cause of the current growth of appetite for risk.

Anrey Torbinski
2010-08-02 07:04, Currency news.

News on: , , , , , , , ,

Post a comment