USD Trading Outlook (20-06-2012)
U.S. Dollar Trading (USD) the market changed direction again overnight as Eurozone debt auctions saw positive demand and Yields dropped in Spanish and Greek 10yr yields. The EUR/USD surged back to 1.2700 and was supported on rumors a bailout for Spain being discussed at the G20. Later this was denied by German officials but the market held most gains. Another large story helping US stock markets rally was growing belief the FED will do something at tomorrows FOMC meeting. Looking ahead, FOMC Meeting Statement forecast to hold rates at 0.25%. Press Conference also afterwards.
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