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EUR/USD eyes 1.3300 despite better IFO

FXstreet.com (Edinburgh) -The single currency reached the boundaries of 1.3390 after the German IFO indicator exceeded investors’ expectations in August, just to drag the EUR/USDto fresh lows soon afterwards.

EUR/USD on its way to 1.3300?

The IFO – Expectations improved to 103.3 for the month of August, bettering estimates and July’s 102.4, although it seems insufficient to propel the pair beyond 1.3390/1.3400 so far. On the contrary, the pair eased to fresh weekly lows around 1.3320, threatening to extend the correction to lower levels. Next on tap will be a Spanish auction of 3m Letras, followed by the US S&P/Case-Shiller index …read more