Dutch International: limited scope for further increase of the euro against the United States dollar

In a report, Francesco Pesole, an analyst of the International Group of the Netherlands, noted that unless there were clear signs of a defunct conflict in the Middle East, there would be limited scope for further expansion of the euro against the United States dollar. He stated that higher gas prices than crude oil prices would have a greater impact on the terms of trade in the euro area and would prevent the euro from forming a strong performance independent of other factors. He anticipated a sale of the euro against the United States dollar in the vicinity of $1.1,500, and believed that the exchange rate was more likely to be stable in the region at the current stage than to be a breakthrough。