Sunday, February 20, 2011
The EUR/USD is retracing slightly after hitting the top end of its current range, says HiFX senior trader Stuart Ive. "Obviously all eyes are looking at what is going on in the Middle East still; I'm a little bit surprised that we haven't seen any risk aversion in the currencies as of yet." The pair is at 1.3702. He says the market is just going to play the ranges--"German IFO Business Climate will be one of the features but I think the market in the next 24 hours will be firmly looking towards the Middle East." He expects the EUR/USD to trade with a range of 1.3740-1.3560 Monday.