The Euro Collapses Against The U.S. Dollar

The euro collapses against the U.S. dollar to 1.40 dollars against 1.415 Friday evening, pending the appointment of the week, especially the G20 summit in Cannes, which promises to be important to the crisis in the euro area.

“Thursday and Friday, the main countries must indicate whether they wish to help Europe (Chicago Options: ^ REURUSD – news), including participation in the ‘leverage’ of EFSF, and under what conditions. China and Brazil will play a key role in the assembly of Europe. The G20 communiqué promises to be determining …’, says it at Aurel BGC.

Sign of continuing concern, the Italian bond yields rose above 6% this morning. ‘It appears that the measures agreed at the summit of October 26 should be clarified and implemented quickly. Italian rates have hardly decreased since the announcements of last week, “commented Arnaud Poutiers of IG Markets.

In addition to the G20, traders will be sensitive to monetary policy meetings of the Fed on Wednesday and the ECB, the next day. The new President of the ECB, Mario Draghi, on this occasion held his first press conference postréunion.

In turn, unscrews the Japanese currency as a result of the announcement by the Japanese government intervention in the foreign exchange market in order to weaken it. Thus, compared to the Japanese currency, the euro climbed to 109 yen and the dollar to 78 yen flies.

On the old continent, the single currency is depreciating against the pound sterling at 0.874 pound against the euro and against the Swiss franc, at 1.219 Swiss franc.