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4 Mar 2013
Forex Flash: EUR/USD would remain under pressure – UBS
The bloc currency is holding steady around 1.3000 on Monday, trading in a narrow range and reflecting the lack direction prevailing in the markets.
Ahead in the week, the ECB will hold its monthly gathering with pressure building up against the backdrop of the tepid results from the euro zone as of late.
“The euro is still likely to remain under pressure, however, as it tests the bottom of this year's 1.30-1.37 range against the dollar. In particular uncertainty of what the ECB will do in response to continuing weakness in the Eurozone is likely to weigh on the single currency”, assessed M.Mohi-uddin, Director of FX Strategy at UBS.
Ahead in the week, the ECB will hold its monthly gathering with pressure building up against the backdrop of the tepid results from the euro zone as of late.
“The euro is still likely to remain under pressure, however, as it tests the bottom of this year's 1.30-1.37 range against the dollar. In particular uncertainty of what the ECB will do in response to continuing weakness in the Eurozone is likely to weigh on the single currency”, assessed M.Mohi-uddin, Director of FX Strategy at UBS.