The euro declined modestly against the greenback, to 1.413 dollars against 1.414 the previous evening in a context that calls for caution in the markets and promotes the dollar’s role as a safe haven. Traders turn away from the single European currency before the release tonight of ‘stress tests’ – Simulation of resistance to a European bank systemic crisis – European banks: of the 91 schools tested, it is expected that ten or even fifteen fails.
Still considered a safe haven, the dollar suffers little paradoxically, the political deadlock on the issue of debt cap of U.S.. After Moody’s, yet it is the turn of Standard & Poor’s placed its rating ‘AAA’ supervision, estimating 50% probability of damage within three months.
Another worrying sign for economic recovery, the index ‘Empire State’ spring to -3.8 in July, according to the Federal Reserve Bank of New York (Xetra: A0DKRK – news). By comparison, the consensus of analysts expected around 5.
The euro also declined against the yen at 111.8 yen per euro, while the dollar is trading 79.2 yen.
The European currency forward timidly against the British pound, pound to 0.877, and against the Swiss franc at 1.156 francs.
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