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Forex: EUR/USD hits new low at 1.3180

Posted by cvbasheer on November 29, 2010

EUR/USD trades below 1.3200 (Barcelona) – Amid poor liquidity, the Euro was further punished by Asian investors, losing ground quite aggressively after a short-lived rebound on Irish bail-out details. EUR/USD was able to trade above 1.3300 in the interbank trading, to be exacts 1.3345 was the highest level posted.

However, at the Tokyo opening, risk sentiment worsened quite dramatically, with the USD and CHF – best performing currencies last week – gaining ground against its main rivals. EUR/USD went on a rampage from 1.3290 at 23:00 GMT to hit its new lowest level for 9 weeks at 1.3180 by 2:00 GMT.


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