The euro fell, ending its longest weekly rally in nine months versus the dollar, on concern stress tests of European Union banks failed to identify sources of weakness that would aggravate the regions debt crisis.
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Euro Falls as Stress Test Results Fail to Alleviate Banking Risk Concern
Bloomberg “There's a lack of credibility,” said Brian Dolan, chief strategist at FOREX.com, a unit of online currency trading firm Gain Capital in Bedminster, … and more » |
In the past week, the dollar has carved out a relatively volatile path; but the single currency has made no headway in extending a two-month bear trend or exerting the necessary effort to establish a much needed reversal.
US Dollar Awaits a Clear Bearing on Risk, Looks Ahead to 2Q GDP Fundamental Outlook for US Dollar: Neutral – The markets seem weather the EU Stress Test; but confidence has not been restored – US economic health continues to diminish, leveraging a dependency on risk appetite trends – Dollar awaits confirmation on direction, conviction with key levels ahead In the past week, the dollar has carved …