Taking to consideration the macroeconomic situation in the world the appreciation of the US Dollar is anticipated in the midterm. Nevertheless in the short run the technical indicators suggest the growth of other major currencies other than the Japanese Yen. Anyway there are two more weeks before the elections in Japan so the market is a bit indecisive about future perspectives of the rate. In the coming weeks the most important event on the market will be the situation in the US. The fiscal cliff is without a doubt in the focus of the market. Some analysts expect the exacerbation of another stage of QE3.
The Euro grew against the US Dollar from 1.3045 to 1.3107 with further slip to 1.3097. In the coming weeks the further growth is anticipated. The failure to get above 1.3140 might trigger the correction and then the massive sales’ pressure.