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Forex Flash: EUR/USD still biased to the downside - Danske Bank

By FXstreet.com,  July 09, 2012, 02:41:00 PM EDT

FXstreet.com (Córdoba) - Risk sentiment continues to stay low and EUR/USD temporarily dropped to 1.2251 overnight, the lowest level since July 2010, notes the Danske Bank analyst team. "With no important data released today all eyes will be on the Euro Group finance minister meeting in Brussels".

"The main agenda on today's Euro Group meeting will be to fill out some of the details in the agreement from the EU Summit on 27 June", says Danske team. "However, today's meeting is very likely to disappoint in terms of concrete results and we still see near-term EUR/USD risks skewed to the down side and recommend to sell on up spikes".




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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