0648 GMT - The euro's downward momentum against the dollar is accelerating, according to the weekly chart, says Quek Ser Leang of UOB's Global Economics & Markets Research in a report. After decisively breaking below the 1.0333 support level in late December, the euro has continued to weaken and is now approaching the 1.0200 level, the markets strategist notes. The euro is likely to keep declining against the dollar, potentially toward the round-number support level of 1.0000, the strategist says. EUR/USD is currently 0.2% lower at 1.0220. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 01:48 ET (06:48 GMT)
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