financial fears shelf lead to the decline of the euro

Euro retreated from its highest level during the month against the U.S. dollar during the Asian trading session after the outspoken A key decision makers in the Republican Party in the United States, and that influenced the weak optimism for an end to the U.S. financial crisis shelf. According to Mr. “John Boehnar” that there has been no significant progress during the past few weeks, and that the White House still has to submit a comprehensive strategy to deal with the next U.S. budget. Without such a plan, the weak recovery of the U.S. economy will be in jeopardy, as it will apply $ 600 billion of cuts in expenditure and an increase in the tax automatically.
As reported from Tokyo at 14:30 Japan time, trading the EUR / USD at the highest level at 1.2994, down from the highest level during the month at 1.3013 which reached him through earlier in the session. The euro also found support from good results on Italian sovereign debt, which has seen a slight decline in yields on Treasury bonds annual ten.
Analysts still see weakness in the euro over the long term, where is the Greek rescue package of the big concerns that aggravate many of the economic data emanating from the region. One analyst sees the euro may fall to the $ 1.24 area with the end of the year, and it is assumed that the U.S. government will avoid financial disaster shelf, which will help push the U.S. dollar, and that the situation in the euro zone remains on what it is.

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