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Forexikon

EUR/USD Would Drop on Risk Aversion

By Forexikon, in General Trading

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Forexikon    10

Forexikon
Posted

The forex rate of US dollar against non-US currencies went up as US dollar index rose and Euro weakened on debt crisis. It was predicted that Euro would continue to drop this week.

 

The analyst pointed out that social situation in Egypt had not been stable completely. At the same time, the economy in Egypt would have huge uncertainty after its politics was stable. Then USD rose on risk aversion.

 

Great Britain pound went down after PPI was issued. The analyst predicted that GBP would continue to drop as British government took fiscal austerity and its economic growth was uncertainty.

 

Bank of England predicted that GBP/USD would increase to 1.5300 in one month, and GBP/USD might rise to 1.4700 in three months.

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