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22 May 2014
EUR/USD: Downtrend remains intact - UBS
FXStreet (Córdoba) - The UBS analyst team notes that the downtrend in EUR/USD remains intact, with worries about the European elections next weekend weighing on the currency.
Key Quotes
"The Eurozone current account fell further, confirming our view that the stabilization in Spain, Italy and other peripheral countries brings stronger import demand and reduces the support for the euro".
"The fall of EUR/USD during the Wednesday trading session was however more driven by worries about the European elections next weekend and other soft factors. Nevertheless, it is a nice confirmation that the downtrend in EUR/USD remains intact".
Key Quotes
"The Eurozone current account fell further, confirming our view that the stabilization in Spain, Italy and other peripheral countries brings stronger import demand and reduces the support for the euro".
"The fall of EUR/USD during the Wednesday trading session was however more driven by worries about the European elections next weekend and other soft factors. Nevertheless, it is a nice confirmation that the downtrend in EUR/USD remains intact".