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EUR Trading Outlook (14-06-2011)

The Euro (EUR) was able to rally even as Greece was downgraded to the lowest possible rating with the slew of recent downgrades no longer having a major impact. The rally late in the day on US stocks allowed short covering back above 1.4400 but the outlook is still very negative while so many issues remain unresolved. Overall the EUR/USD traded with a low of 1.4321 and a high of 1.4431 before closing the day around 1.4410 in the New York session.

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