FXstreet.com (Córdoba) - The Euro was rejected from levels above 1.4400 and weakened. EUR/USD recently fell below 1.4350 and currently is testing levels under 1.4330 and trades near the same price it had at the beginning of the day. The pair is headed toward the third weekly decline in a row accumulating a slide bigger than 700 pips.
Andrew Wilkinson, analyst at Interactive Brokers, affirms: The euro is back to unchanged against the greenback at $1.4355 in early U.S. trading after earlier reaching $1.4405 following an encouraging reading of business and investor confidence. However, the dollar is not giving in so easily this morning, for now at least, and appears to be fighting its way back to erase losses against other majors. In all the dollar has had a very positive week with more investors having been forced to quit short dollar plays during a week of concerns over rising risk aversion thanks to sovereign downgrades and potential vilification for a sea change to the direction of longer term yields.