EUR/USD is Likely to Trend Downwards Over Coming Days, According to Commerzbank Analyst

Questions which remained unanswered following the EU summit are more disconcerting for the markets than the controversy regarding the debt ceiling in the US. The EUR/USD is likely to trend downwards over the coming days, according to Antje Praefcke analyst at Commerzbank. "On this backdrop, despite increased uncertainty the high-yielding currencies such as AUD and NZD are able to score with arguments such as rate expectations, economic recovery and low debt levels. They seem to be escaping lightly or even enjoy a status as 'safe haven'. However, the Swiss franc remains the main winner in all this, continuously recording new highs", said Praefcke.