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EUR Trading Outlook (21-02-2011)

The Euro (EUR) the Euro was strong once again pushing to a new level above 1.3700 with traders focusing on comments from ECB member Smaghi that as the economy recovers and commodities rise so will the very low interest rates. Overall the EUR/USD traded with a low of 1.3546 and a high of 1.3715 before closing the day around 1.3690 in the New York session. Looking ahead, German February IFO forecast at 107.5 vs. 107.8 previously.

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