Taipei Times - Euro firms ahead of French referendum while US dollar dips

Taipei TimesEuro firms ahead of French referendum while US dollar dips

Greg Anderson, currency analyst at ABN-Amro, said traders had been selling euros for most of the past seven weeks in anticipation of a rejection by the French vote and that "today they're taking profits." He said investors were squaring positions ahead of the holiday weekend in London and New York. "If there's a `no' vote, the euro dollar will stay between US$1.25 and US$1.26," he said. "If it's a `yes,' the euro could bounce back to US$1.27." He added that he expected any moves to be limited because "it's still the same economy."