Euro Relatively Strong Against Greenback

Learn Forex News : The single currency Euro appears relatively stable with a strong move in trading Tuesday (2/4) is mainly due to the weakening of the U.S. dollar (USD) after data on U.S. manufacturing activity slowed release triggered investors to sell the greenback.

In addition, concerns conducive Cyprus problem that might avoid bankruptcy, also limiting further weakening Euro. However, euro still faces downside risks associated with deteriorating economic fundamentals appeared lately.

Euro tracked sideways in the range of 1.2858 after falling to 1.2838. And the range is relatively more powerful today than the range at the beginning of the week (1/4), which dropped to 1.2770.