EUR Trading Outlook (02-12-2010)
The Euro (EUR) rebounded aggressively after reclaiming the 1.3000 handle in the Asian session on talk in the market that the ECB may have a new aggressive plan to deal with the Debt contagion threat. Also supporting was talk the US would support an expanded IMF/EU bailout fund for the Eurozone. EUR/USD traded with a low of 1.2970 and a high of 1.3183 before closing at 1.3140. Looking ahead, ECB Rate Announcement forecast to remain at 1.0% with President Trichet speaking afterwards.
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