EUR/USD: Euro is being corrected slightly at the beginning of the week

The pair EUR/USD is traded slightly downward at the Forex currency market on Monday morning – As the weekend chairman of U.S. Federal Reserve Ben Bernanke stated that new full- scale recession does not threaten the U.S. and the program QE2 can be expanded if necessary.
By 10.25 Moscow time the Euro is at 1.3348 against closing session level of 1.3423 on Friday.

Bernanke noted in an interview at the weekend that purchase of additional amount of securities within QE2 is not excluded and such decision will entirely depend on the effectiveness of the program. 

The day will be uneventful in terms of macro-statistics and investors will regain the U.S. employment data of Friday and will rely on external background.

Most likely the pair EUR/USD will not go beyond the range of 1.3250-1.3450 at the trading session on Monday.

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