Euro to U.S. Dollar Weakens
Euro back down after it was strengthened. Until this afternoon, the euro’s position has been perched at 1.2379 dollars per euro, down 0.01 percent from yesterday’s position at 1.2389 at 13:40 pm.
Analyst Marc Chandler in New York told Bloomberg rate euro rally is now a phase of improvement in a bearish market and not a change in trend. He estimates, for the medium term would be more weakened market (bearish), but the weakening of the euro to slow.
Earlier the euro had strengthened to a level of 1.2441 U.S. dollars. A stronger exchange rate of the European Union along with the ease European fears of debt crisis. This is marked by surging demand for Spanish bond auction.
Strengthening of the euro also due to the U.S. dollar which letoi. The trigger, a regional index of manufacturing industry in the U.S. declined from 21.4 to 8 this month. Besides news in the U.S. the number of unemployed rose by 12,000 to a total of 472 000 per week ago to make U.S. dollars more severe measures
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