Monexnews-Euro mired the lowest level versus the U.s. Dollar by 2013 with evidence that the u.s. economy was able to grow better than the eurozone's economic distress. Traders argue if a combination of eurozone economic data, slowing inflation and political instability in Italy will push borrowing costs for Europe's troubled countries.
The focus of investors is also fixed on trimming the US spending of $ 85 billion, which will automatically apply on Friday.
"When you look to Europe, you will see the high unemployment figures, the growth of which almost didn't happen, and rising debt levels," said Howard Jones, a financial adviser at RMG Wealth Management. "While the US data comparison, far better than Europe. And for us that's a sufficient reason to buy dollars. The Euro will likely weaken to the mid $ 1.20 1.20 in 2 months ahead. " (vid)
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