• May 23, 2024

EUR/USD moves below 1.26

The U.S. dollar moved higher against the euro in today’s forex trading, thanks in part to the announcement that U.S. capital inflows last month had reached their highest level in nearly three years. The euro now stands below $1.26.

Two weeks ago, the International Herald Tribune reported on market speculation that the euro could fall to parity with the dollar by the beginning of 2009. However, many technical analysts are skeptical, citing the dollar’s inability to break below 1.2400 as a sign of near-term resistance.