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Fed – Not Greece – Could Provide Boost to Euro This Week

Posted By admin On June 18, 2012 @ 2:36 am In Money Watch | Comments Disabled

Ansuya Harjani
CNBC [1]
June 18, 2012

The euro reversed strong gains against the U.S. dollar in Asian trade on Monday, as optimism surrounding the expected win by Greece’s pro-bailout parties in Sunday’s critical elections proved short-lived for the single currency.

Still, one strategist remains upbeat on the outlook on the euro, and it has little to do with Greece.

“(One) reason we expect the euro to push higher has nothing to do with Greece. We think the Fed is going to open the door to further stimulus (on Wednesday),” Ashraf Laidi, Global Chief Strategist at City Index told CNBC Asia’s “Squawk Box” on Monday. Laidi forecasts the euro-dollar will move as high as 1.2850 this week.

Citing recent weakness in U.S. economic data, Laidi predicts the country’s central bank will extend Operation Twist at the June 19-20 meeting.

Full article here [1]

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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/47853777

[2] Greece to Leave Euro Zone on June 18: Wealth Manager: http://www.prisonplanet.com/greece-to-leave-euro-zone-on-june-18-wealth-manager.html

[3] European stocks and euro dive on Greece fears: http://www.prisonplanet.com/european-stocks-and-euro-dive-on-greece-fears.html

[4] Euro rallies after ministers agree Greece bailout terms: http://www.prisonplanet.com/euro-rallies-after-ministers-agree-greece-bailout-terms.html

[5] Euro’s Future in Question Even if Greece Saved: Soros: http://www.prisonplanet.com/euros-future-in-question-even-if-greece-saved-soros.html

[6] Bookmaker bets Greece will exit euro by end of 2012: http://www.prisonplanet.com/bookmaker-bets-greece-will-exit-euro-by-end-of-2012.html

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