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Tuesday, January 20, 2009

Forex - Euro slightly weaker, though still close to all-time high against dollar

LONDON (Thomson Financial) - The euro was slightly weaker, largely unaffected by a series of relatively strong data from euro zone countries, although still close to its all-time high against the dollar.

With little major US data out, analysts said a breakthrough past the record 1.3666 usd is unlikely to come today. "It seems we may have to wait for Friday's US GDP figure to see a clear break of the euro-dollar high, considering the relatively empty economic calendar today. Till then, we may experience a little pullback" said Gavin Friend, currency strategist at Commerzbank.

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