Forex: EUR/USD posts third weekly gain

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FXstreet.com (Córdoba) - Despite the fall seen during the second half of the week, the euro is set to close the week in positive territory for third time in a row.

EUR/USD came under pressure amid the lack of progress in US fiscal cliff negotiations and printed a 1-week low of 1.3164 at the beginning of the NY session. However, on a wider view, the pair had a choppy week, seesawing between 1.3164 and 1.3282, but unable to define a strong directional move.

At time of writing, EUR/USD is quoting at the 1.3215/20 area, down 0.1% on the day, but up 0.3% this week. For the week ahead, trading is expected to remain choppy as investors continue to focus on the US budget talk, while thin conditions may persist.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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