Expert: volatile currencies should be expected

Finansy10-11-2008 Judge: volatile currencies, we should not expect past week showed that observed for a long time the storm in the forex market come to naught. Experts say that next week everything will pass without much hesitation, as the market need to relax after a sharp rise in October. Furthermore, good support its currency gave the ECB, coordinated by reducing the base interest rate. Contrary to expectations, the U.S. election have not had a serious impact on the movement of world currencies, which may explain the unwillingness of investors to link the election of a new president, followed by swift changes in the economic and foreign policy of America. The opening bid at the beginning of week, there was virtually no breaks. The dollar was trading around 1.27 per euro. However, during the following trading days, the euro fell to $ 1.25 a week at least. In the future European currency has still been able to recover from these lows and achieve a level of 1.3. Nevertheless, by the end of the week for the euro given in the 1.29 dollar. Talking about the background of news last week, it may be noted that the most significant development was the reduction in base interest rates by European Central Bank - which gave strong support for the euro.