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    Lathika Lanka Abeyrathna
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    EURUSD fell early in European trading due to concerns over divisions between EU policymakers hampering progress at the upcoming weekend summit on the euro zone debt crisis. German Ifo business sentiment data also dropped for the fourth month running, further pressuring the euro. EURUSD later rebounded from its low to rise above 1.38, helped by short-covering ahead of the uncertain EU summit and the start of the US session. However, the euro remained vulnerable to potentially plunging on Monday if the summit produces disappointing results.

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    EURUSD fell early in European trading due to concerns over divisions between EU policymakers hampering progress at the upcoming weekend summit on the euro zone debt crisis. German Ifo business sentiment data also dropped for the fourth month running, further pressuring the euro. EURUSD later rebounded from its low to rise above 1.38, helped by short-covering ahead of the uncertain EU summit and the start of the US session. However, the euro remained vulnerable to potentially plunging on Monday if the summit produces disappointing results.

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    Download as DOCX, PDF, TXT or read online from Scribd
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    2 views1 page

    Funda Analy

    Uploaded by

    Lathika Lanka Abeyrathna
    EURUSD fell early in European trading due to concerns over divisions between EU policymakers hampering progress at the upcoming weekend summit on the euro zone debt crisis. German Ifo business sentiment data also dropped for the fourth month running, further pressuring the euro. EURUSD later rebounded from its low to rise above 1.38, helped by short-covering ahead of the uncertain EU summit and the start of the US session. However, the euro remained vulnerable to potentially plunging on Monday if the summit produces disappointing results.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Friday 21st October 2011

    EURUSD declined early in European trading on concerns over the upcoming EU summit this weekend and the divide between policy makers which could hamper progress in tackling the euro zone debt crisis. German Ifo business sentiment data released today showed the index dropped in October for the fourth month in a row, which hurt the euro further. EURUSD soon bounce off the low of 1.3703 to climb to 1.3837, with the overlapping US session open helping the rise and traders short-covering ahead of an uncertain weekend EU summit. The euro remains vulnerable and any disappointing news could cause it to plunge on Monday.

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