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EUR Trading Outlook (20-05-2011)

The Euro (EUR) Rallied above 1.4300 in Asia before dipping in Europe. The selling proved short-lived and with weak US data traders pushed and closed on a strong footing above 1.4300. The outlook for the Euro is mixed with the Greece debt issue still unresolved. Overall the EUR/USD traded with a low of 1.4205 and a high of 1.4338 before closing the day around 1.4315 in the New York session. Looking ahead, April PPI April 0.5% vs. 04% m/m.

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