EUR Trading Outlook (24-02-2011)
The Euro (EUR) continued to gain strength shrugging off risk aversion to push to week highs. Traders note that interest rate expectations for the Eurozone in recent weeks are firming after lots of hawkish comments from ECB officials. A roadmap to raising rates is expected to be added at the next ECB meeting.   Overall the EUR/USD traded with a low of 1.3670 and a high of 1.3788 before closing the day around 1.3750 in the New York session. Looking ahead, Revised Q4 German GDP initially at 0.4%.
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