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23 Aug 2013
EUR/USD closes another week with gains
FXstreet.com (Córdoba) - The EUR/USD is set to close the week with gains for seventh time in a row as the pair has been in steady recovery ever since bottoming out at 1.2757 on Jul 9.
EUR/USD fails to consolidate above 1.3400
The EUR/USD even printed a 6-month peak of 1.3451 on Wednesday following the FOMC minutes which gave no clear signals on when the Fed could begin to taper its bond purchases. However and despite give it another try on Friday, the EUR/USD failed to consolidate above the 1.3400 mark and retreated somewhat.
At time of writing, EUR/USD is trading around 1.3380, where it is up 0.2% on the day and 0.4% this week.
German elections and Fed could weigh on EUR/USD
“As expected August proved to be an opportune time for the EUR to stage a rally but German election jitters and Fed tapering in September could put the single currency back under pressure”, said Ilian Yotov, analyst at AllThingsForex.
EUR/USD fails to consolidate above 1.3400
The EUR/USD even printed a 6-month peak of 1.3451 on Wednesday following the FOMC minutes which gave no clear signals on when the Fed could begin to taper its bond purchases. However and despite give it another try on Friday, the EUR/USD failed to consolidate above the 1.3400 mark and retreated somewhat.
At time of writing, EUR/USD is trading around 1.3380, where it is up 0.2% on the day and 0.4% this week.
German elections and Fed could weigh on EUR/USD
“As expected August proved to be an opportune time for the EUR to stage a rally but German election jitters and Fed tapering in September could put the single currency back under pressure”, said Ilian Yotov, analyst at AllThingsForex.