Growth of the euro has stopped. Achieving complex technical level 1.38 dollars / euro on the eve of forced players to think about the advisability of further purchases. On the one hand, the weak U.S. statistics leaves little choice but to flee from the dollar zone. But finding an alternative to the dollar every day more difficult.
Europe once again plunges into debt crisis, and the stronger euro only worsens the situation. Export-oriented countries in the EU is difficult to compete with goods from China in the first place because European currencies at the moment significantly overstated, and the Chinese opposite - low.
Tuesday, October 5, will meet Chinese Premier Wen Jiabao Meets with representatives of the EU's financial authorities. The talks will be just the adjustment of exchange rates. "The situation with the euro is much worse than the dollar, which leads to global imbalances in the foreign exchange market. We want China to behave as a responsible global player," - said the head of the Eurogroup Jean-Claude Juncker. Since Beijing in June refused to pegging the Yuan to the dollar, the Chinese currency has strengthened by 2.15% to the "Americans", but declined by 9.4% against the euro, which caused strong discontent ECB, reports Reuters.
Somehow the players have already started to fix a long euro. The exchange rate established at around 1.368 dollars / euro, and is likely to decline in the next session to continue. Spread (as well as strong reduction) may occur after the announcement of the results of negotiations with the PRC.
