EUR/USD: Euro continues to lose positions
The pair EUR/USD continues the descend at the Forex currency market on Wednesday, which started yesterday.
By 8.10 Moscow time the Euro is at 1.3888 against closing session level of 1.3904.
Investors withdraw positions in the Euro since the talk about debt problems of Greece has resumed in the market- despite the fact that the auction of government bonds which was carried out yesterday, was quite successful and the bid book was oversubscribed more than 3.5 times.
Against this background players also ignore the statements of the representative of ECB, ex-chairman of Bundesbank, Axel Werber that the European Central Bank could raise the rate several times this year. However against the background of the previous comment of the head of the Bank Mr. Trichet, that the interest can be increased in April as part of the fight against inflation, this comment did not make any effect on the market.
Therefore, fears regarding possible debt problems of the peripheral countries of the Eurozone are at the forefront again.
Most likely the pair EUR/USD will not go beyond the range of 1.3800-1.3950 at the trading session today.
