Weak Outlook for U.S. Economy Pressure Dollar |
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This week the EUR USD penetrated the 1.31 price level for the first time since May. The primary driving forces behind this move were the better outlook for the Euro Zone economy and the weak outlook for the U.S. economy. The data out of Europe may have brought the European Central Bank closer to a rate hike than the Fed. The GBP USD closed near the high for the week after piercing a major 50% price level. The strong close put the market over 50% of the 1.7042 (July 2009 Top) to the
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