Euro weakens further
Lately investors have been betting that the Federal Reserve is going to raise interest rates by the end of the year assuming a hopeful economic recovery. Along with the raised bets on the move of the Federal Reserve and falling stocks around the globe, the US dollar has gained against the euro.
As of last week the currency exchange rate was USD1.3968 compared to the early week's decline to USD1.3898. According to a price action that took place last week there has been a rejection candle that has temporarily halted the upward trend. Currently there is a bias for a downside continuation of the trend that the euro will fall in the strongly bearish trade index.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.