Euro may see bounce back to $1.3650: Nirmal Bang

Last fortnight proved to be vulnerable for high yielding currencies as political uncertainties over the implementation of EFSF (European Financial Stability Fund) were mounting on the Euro zone.

Weaker PMI numbers from China, Euro zone and the UK made investors believe that the world is heading towards a mild recession.

Rising yields of Spanish, French and Italian bonds was another cause of concern for respective governments as the borrowing rate was at a Euro era high.

The US dollar proved to be the preferred asset class for all investors. However, the world