| Forex: EUR/USD Remains Above 1.2850, Bears Keep The Tone
Mar 26 2013, 18:54 | includes: FXE, UDN, UUP
Despite the greenback trading lower against its majors competitors, the EUR/USD continued moving sideways, as the euro doesn't have enough punch on the back of the Cypriot crisis and the Dijsselbloem statements on templates, Cyprus, savings and other reflections.
The EUR/USD traded sideways on Tuesday, with the pair moving between 1.2840 and 1.2880. The pair closed 0.08% positive on the day. The mood is consolidative after Monday's declines, but is it happening because of the dollar breather or the euro weakness? Nevertheless, the Cyprus situation is capping the single currency.
Meanwhile, the market is concerned about the banks opening on Thursday, as Cyprus could experience a money overflow.
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