Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
Yesterday we expected the euro to consolidate between 1.0645/1.0695. The euro subsequently traded within the 1.0653/1.0698 range and closed at 1.0690 (+0.33%). The underlying tone has stabilized, and there is…
