Tuesday 27 September 2011

EUR/USD Edges Up On EFSF Expansion Hopes

The euro rose against the dollar Tuesday, the EU leaders Recovery Fund areas, examine ways to strengthen the European financial stability has increased the speculation.

EUR / USD are 0.11% of the last operation in Asia it is easier for the couple, the highest since Friday, and then consolidated at 1.3549 while the pair hit 1.3566.

Double 1.3361 Monday low, and eight months is likely to find support and resistance to 1.3693 in the September 12 high.

Monday, a senior politicians EFSF EUR440 million from the European Central Bank provides more money than the European Central Bank, can be used as collateral for the debt, he said.

But the single currency, then a week before the vote under pressure from the expansion of the role of EFSF kaldı.Gerekli steps to expand the functionality of the previous measures to be applied to the part must be approved by the governments of the EU.

In the meantime, the Greek government to provide support at the end of the day was voted a new round of austerity measures needed.

Elsewhere, the euro EUR / USD 0.8685 0.09% to reach the lost, fell against the pound.

Also Tuesday, a report showed German consumer climate indicator was 2.5 in August. Analysts had expected the rate of decline of 5.1.

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