FXstreet.com (Córdoba) - The US dollar is slightly firmer overall, although trading remains quiet ahead of the European Leaders meeting, points out the Wells Fargo team. "The euro is slipping, with German Chancellor Merkel repeating that eurobonds are the 'wrong way' to resolve the Eurozone's debt crisis".
"The other major European currencies are also down, with the pound the weakest G10 currency despite firm retail data", say the analyst.
"Foreign exchange markets, as well as broader financial markets, will likely remain in a holding pattern until the end of this week", they add. "We expected continued choppy trading in the next few days, with a slight bias towards U.S. dollar and yen strength, and weakness in most other foreign currencies".
"The other major European currencies are also down, with the pound the weakest G10 currency despite firm retail data", say the analyst.
"Foreign exchange markets, as well as broader financial markets, will likely remain in a holding pattern until the end of this week", they add. "We expected continued choppy trading in the next few days, with a slight bias towards U.S. dollar and yen strength, and weakness in most other foreign currencies".
