NEWS / Foreign Exchange

The dollar gains against the euro for second consecutive week

Thetrader??™s speculations set a new direction, as most of the traders believe thatthe interest rates difference between US and Euro Zone won??™t narrow so muchlike the recent expectations. The dollar ups against the euro for secondconsecutive week after 6-weeks losses against the euro. The interest ratesdifference will remain at the range for the moment of 1.5% to 0.75-1.00%between USA and Euro Zone. The positive news for the dollar would not meancontinue of the dollar recovery because the US economic growth is still notenough to set the dollar new gains. If the dollar up against the euro for thirdconsecutive week the signal to the investors will be clearer and much of themwill prefer to close their euro positions.