Euro At 2.5-Year High Against Dollar

 | Mar 14, 2014 08:21AM ET

The euro rose to 2.5 -year high against the dollar on Thursday, supported by expectations weakened further easing by the European Central Bank.
The single currency is close to high against the dollar since 2011. Market participants are nervous, since the combination of factors such as the opposition in the Crimea and concerns about China, very rocking markets. "On Wednesday, the leaders of the Group of Seven called on Russia to cease all attempts to change the status of Crimea, as well as to prevent the referendum in the Crimea", - analysts said the company's Forex Forex Broker HY Markets.
Big Seven does not recognize the results of the referendum in the Crimea, as it would be contrary to the Constitution of Ukraine. If Russia will not abandon the annexation of the Crimea, it will be applied to further sanctions, both to individuals and to the whole country in general.
According to analysts of Forex, USA, Canada, France, Germany, Italy, UK and Japan stated on the application of new sanctions against Russia in the case of annexation of the Crimea. The Government of Ukraine has announced the availability 19,000 Russian troops on the peninsula.
EUR/USD remains in Friday's highs
According to Eurostat published data, experts say Forex, industrial production in the euro area in January fell by 0.2%, the forecast assumes growth rate at 0.5%. The December figure was revised down to -0.4%.
According to forex company HY Markets, today, March 13, 2014, EUR/USD remains in Friday's highs at $ 1.3915. Above resistance at $ 1.3960. Immediate support lies at $ 1.3835 (yesterday’s low), then - at $ 1.3800, lower - around $ 1.3785 (61.8 % Fibo of recent growth).