EUR/USD: Euro continues to decline

The pair EUR/USD is traded with minimal deviation at the Forex currency market on Thursday morning after significant fall yesterday

By 9.35 the Euro is at 1.3450 against yesterday’s closing level of 1.3554. 

Yesterday’s massive sales were caused by the increase in yield of the Italian debt securities to the critical level of 7%, and then up to 7.25% when Prime Minister Silvio Berlusconi failed to convince parliament that prompt resolution of debt problems in the country is possible.

Meanwhile, process of approval of anti-crisis measures can be accelerated in the Italian Parliament before the end of the week, to allow Berlusconi to resign, which would help partly relieve pressure in the market.

Political talks have not been completed yet in Greece which is a point of pressure on the market.

Most likely, the pair EUR/USD will not leave the range of 1.3400-1.3480 at the trading session on Thursday.