So, since the beginning of trading week the market shows high volatility and scope. We remind that on the eve the euro/dollar rate, having continued its growth, has recorded the next two-year-old top.

The euro/dollar rate preceded its night growth and reached a level of 1.3452 at the American session, maximal since the middle of March, 2005.

All experts notice strengthening of influence of geopolitical factors on the market. We remind that a dollar exchange rate was under pressure of not only escalation of confrontation around the nuclear program of Iran, but also recently arisen intensity in trade relations between the USA and China because of protectionist measures of the American Department of Commerce.

Besides the dollar was under pressure of agitation around a current situation in the market of the real estate in the USA and also the economic parameters confirming that now in the USA there is observed drop in rates of economical growth.

Let's remind that the Dallas FRB President Fisher noticed that now in the country there is observed decrease in rates of economical growth, however he also added that already up to the end of current year growth of volumes of gross domestic product will again start.

Today the additional driver in the market was pound cross-rates. We remind that after the issue of the article in Financial Times that the British Ministry of Finance plans tax amnesty for the British transnational companies which will withdraw their incomes abroad the pound received a forward impulse which led the rate pound/dollar to achievement of a mark 1.9815.

But after the representative of the British Ministry of Finance declared that planned changes of the tax laws will not affect greatly a level of incomes of the companies the pair returned to a level 1.9747. And the pound/yen rate dipped from today's top 2.3608 by 60 points.

As a whole the basic currency pairs, expecting today's publication of the report of last meeting of Federal Open Market Committee from March, 20-21, remained within the limits of former trading ranges.

However the main event on which market’s players is focused, is tomorrow's ECB meeting, and the subsequent press conference of members of Governing Council.

Therefore while  we recommend to keep waiting position.