"Report": Next week will be tough for euro

Baku. 24 February. REPORT.AZ/ The euro has faced decline for the second consecutive week. Investors decided to lower their positions in the euro ahead of expected events in Europe's political life next week

Report informs, the results of the parliamentary elections in Italy on March 4 and the voting results on joining social-democrats in Germany to the ruling coalition led by Angela Merkel will be clear. Both events are expected to create volatility in financial markets.

"Apart from the political factors, the dollar's outlook also appears to be more constructive in the short term thanks to the rising yields," said Manuel Oliveri, an FX strategist at Credit Agricole inan London.

Analytical Group of Report says, any minor negative news in the eurozone's political arena will cause serious sales in the euro exchange rate. Euro / dollar exchange rate which is 1,23 USD/EUR at present is expected to drop to 1.20 USD / EUR next week.