EUR Trading Outlook (16-12-2010)

The Euro (EUR) the market was spooked by the ongoing European debt crisis as Moody&rsquo s warning came ahead of today EU leaders meeting. EUR/JPY held up better than most crosses on a resurgent USD/JPY. EUR/USD traded with a low of 1.3207 and a high of 1.3379 before closing at 1.3220. Looking ahead, December PMI Services is forecast at 55.4 vs. 55.4 previously.

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