Forex: EUR/USD: Euro post weekly gains

Source: www.ibtimes.com

Despite a decline on Friday, the Euro ended the week 0.79% higher against the Dollar. EUR/USD finished Friday trading in a range between 1.4830 and 1.4850. The Dollar failed to confirm a break below 1.4700 and on Wednesday the Euro rallied after the FED decided to leaves rates unchanged but on Friday was unable to hold above 1.4900.

The rally of the Euro against the Dollar eased in the last two weeks as EUR/USD failed to reach levels above 1.5060. Current environment is not very optimistic about the economic recovery, helping the Dollar that works as a refuge for investors.


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