Unsurprisingly, data on the US housing sector pushed the euro over the edge 1,26.
Coinciding with the publication of the report on the housing market in the USA, the single currency reached its lowest point in recent years 22 months, bouncing at altitude 1,2565 after 16pm.
The US real estate data is very positive: the house price index increased by1,8%, against an expected data of the 0,4%. New home sales also stood at 343 thousand units, against an expectation of 335 thousand. The previous figure was 332 thousand units sold.
Weakened by tensions over the Greek crisis and nervous anticipation for tonight's informal summit, improving US data has found fertile ground to push the single currency lower.
Where the news coming from Brussels confirmed the line strictness imposed by Germany, a further depreciation of the Eurodollar exchange rate is entirely probable during the Asian trading and on Thursday morning, in the direction 1,24 or, as suggested by some analysts, towards the lows of the last two years in the area 1,20.
