FXstreet.com (Barcelona) - The euro is consolidating yesterday’s strong gains well above the 1.32 figure on Friday, and the lack of further events in the euro zone leaves only the US trade balance with chances to affect the cross, although the current strength of EUR/USD makes that pretty unlikely.

“We expect EUR/USD to range-trade in the mid-to-low 1.30s during the coming quarters - with the US fiscal and debt ceiling negotiations likely to create some noise and the risk of temporary dollar strength during February”, explained Senior Analyst K.Kirkegaard at Danske Bank.