Month-end Euro demand

30 June 2009 @ 06:21 am EDT

There will be an important impact on Tuesday from the impact of month-end trading, especially as it is also the end of the second quarter and volatility levels are liable to spike higher in New York. There will be further underlying fears over reserve diversification away from the dollar which will also tend to undermine the US currency. Month-end demand will tend to trigger further near-term Euro gains, potentially to at least 1.4180 against the dollar before a sharp corrective retreat on Wednesday.

For more forex information, go to www.investica.co.uk

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