Euro up but not to Monday’s Highs

The US dollar has retreated a bit against the Euro after the Euro experienced 14-month highs on Monday at over $1.50.

It is widely expected within the forex markets that the dollar is poised for a stronger period after a sustained period of weakness.  However, no-one seems to know what exactly the catalyst will be for the foreign exchange market!

Some say that the data release later this week in the USA – of third quarter results, expected to signal the end of recession in the US – will provide a boost for the currency.

The Euro is now hovering around $1.48.

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