EUR Trading Outlook (25-02-2011)
The Euro (EUR) a dip going into Europe was bought up aggressively to see the major break above 1.3800. Traders note the hawkish Weber comments talking of rate rises and the Dovish US Fed comments from Bullard for the continuation of the uptrend. Overall the EUR/USD traded with a low of 1.3703 and a high of 1.3825 before closing the day around 1.3810 in the New York session. Looking ahead, German CPI is forecast at 0.5% vs. -0.5% m/m.
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