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Forex Flash: Fed, EZ debt crisis balancing out EUR/USD - Commerzbank
FITITOL--> FXstreet.com (San Francisco) - Since the end of January, EUR/USD has been moving in a narrow range between 1.30 and 1.35. Ahead of the closing bell in New York, the pair is quoted in the 1.3255 area vs 1.3210 last Friday, poised to gain ground for a second consecutive week.“The risk of the Fed easing monetary policy further â€" which would harm the dollar â€" and fears about an escalation of the sovereign debt crisis putting pressure on the euro have been balancing each other out,†explains Lutz Karpowitz, economist at Commerzbank.
Even though the sovereign debt crisis does not equal a crisis of the euro, it nonetheless constitutes a negative factor for the single currency, says the economist.
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