EUR Trading Outlook (05-11-2010)
The Euro (EUR) did well to take full advantage of a bruised greenback, trading at 9 month highs despite perceptions that the decision by the FOMC to add stimulus may undermine the Eurozone recovery. The ECB held interest rates at 1.00% as widely expected, with members highlighting the risk on inflationary pressures if interest rates remained low for a sustained period. The EURUSD traded with a low of 1.4100 a high of 1.4281 before closing the day at 1.4208.
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