The Euro (EUR) surged from the start of Asia to break above 1.4500 and to fresh year highs. EUR/JPY and EUR/GBP also leapt higher with the market focusing on good Spanish Bond Auctions and talk China would revalue its currency lower. Overall the EUR/USD traded with a low of 1.4353 and a high of 1.4549 before closing the day around 1.4520 in the New York session. Looking ahead, April German IFO forecast at 110.5 vs. 111.1.
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