NEWS / Foreign Exchange

Is the final day for EURUSD jumping into records?

The marketgenerates all expectations for the expecting cut of the U.S. Interest ratestoday. But if the Fed act strongly and cut the interest rates with 50 bps to4.25% the dollar should test 1.47 even today. Otherwise if the Fed keeps theinterest rates the dollar also will test the levels above 1.45 to 1.47. Aserial of negative reports are expecting this week for the U.S. economy thatwill signal new momentum to test 1.45 even ahead the FOMC meeting today. Thisis the fourth consecutive week with falling dollar. No lights in the tunnel fordollar recovery in near-term. No support for the dollar.