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17 Apr 2013
Forex Flash: EUR/USD to go towards 1.26 - UBS
FXstreet.com (Córdoba) - "We have been looking for EURUSD to break the uptrend for a couple of weeks now, and it finally happened", says the UBS analyst team.
"Part of the explanation for EURUSD to fall is softer commodity prices which support the greenback. Part of the explanation is Bundesbank President Weidmann, who discussed quite openly the option of a rate cut. This is a first signal that the German economy might worsen. Finally, worries about Italy remain an issue", they comment. "We continue to expect EURUSD to go towards 1.26".
"Part of the explanation for EURUSD to fall is softer commodity prices which support the greenback. Part of the explanation is Bundesbank President Weidmann, who discussed quite openly the option of a rate cut. This is a first signal that the German economy might worsen. Finally, worries about Italy remain an issue", they comment. "We continue to expect EURUSD to go towards 1.26".