Will the euro continue to fall against the dollar or will recent strength continue and invalidate the near-term negative scenario?
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The euro exchange rate complex is under pressure following the release of disappointing PMI figures.
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“We maintain our expectation of near-term euro weakness, as prospects of policy tightening comes into sharper focus in the US and UK.” - July exchange rate forecast update from Lloyds Bank.
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But currency market watchers are warned that a repeat of last week’s 3% drop in the euro to dollar conversion is unlikely.
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After a busy mid-month period the euro dollar exchange rate (EURUSD) we look at the next possible targets.
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The euro exchange rate complex came under pressure on news that the ECB will keep its monetary policy unchanged. But, there is the sense that the Eurozone economy is getting better.
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The euro to dollar exchange rate has fallen in dramatic fashion on Tuesday the 7th July.
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