Monday, April 30, 2012

Forex Insight: Euro worst against Dollar sense December

Reuters- The euro failed to gain traction despite signs the U.S. economic recovery was losing momentum, raising the possibility of further U.S. central bank monetary easing. Data on U.S. spending and business activity in the Midwest reinforced that view.

In afternoon New York trading, the euro fell 0.2 percent to $1.3228 against the dollar, with investors wary of pushing it back toward a near 1-month high of $1.3270 reached on Friday. However, it stayed just above support at its 55-day moving average at about $1.3205. On the month, the euro was down 0.9 percent, its worst performance since December last year.

 The euro, however, has not closed below $1.30 or above $1.35 since January 20

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