Euro Still Surviving on the Highest Level in 1 Week; Impact of Continued Action 6 Central Bank
fxbom.com
10:35 AM
In today’s trading the euro exchange rate remained in the range of the highest in a week later (01/12). Euro had strengthened significantly today tend to move stuck even though sentiment in general still shows the potential continues to strengthen.
Combined action of six global central bank last night to give an injection of vitamin positive sentiment for the market. The Fed confirmed that the cost of borrowing dollars from the central bank to banks will decline by 50 bps to 50 bps. Dollar swap lines will be extended until February 2013. Fed to coordinate action with the ECB, BoC, SNB, BoJ and the BoE.
Six central bank also approved the establishment of bilateral swap program temporarily so that financing can be provided in each currency “when the market is in desperate need”. This policy will also apply until February 2013.
Today the euro was at 1.3438 dollars a position. The position of the euro moves only slightly from the close trade early this morning at 1.3442 dollar positions. Last night the euro reached its highest level since 23 November which is at the level of 1.3529 dollars.
Fxbom.com Analysts estimate that the movement of the euro will likely still has the potential to continue the movement bullishnya. EUR / USD will try to test the resistance level at 1.3525 dollar positions. Meanwhile, if turned toward the EUR / USD will test the support level at 1.3400 dollar positions.
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- Sterling Go 1.5 Level Dollars, Reaches Highest Position in the sixth Week
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