FXstreet.com (Barcelona) - The Euro will keep depreciating against the Dollar for the rest of the 2009 year, to start recovering in the fist quarter of 2010, according to the FX outlook by The Bank of new York Mellon.

EUR/USD would follow a clear downward path for the whole year, reaching 1.1900 in the second quarter of the year, and 1.1700 in the third quarter to bottom around 1.1500 in the last quarter of the year.

The Euro would start recovery in 2010, reaching 1.1750 in the first quarter of 2010, and 1.2000 in the second quarter.