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EUR Trading Outlook (23-06-2011)

The Euro (EUR) The afterglow of the positive confidence vote for Greece PM ended in Asia and profit taking was seen ahead of the US FED decision. The neutral FOMC statement helped the Dollar to rally and weak stocks added to the downside pressure. EUR/GBP buying helped support the single currency.Overall the EUR/USD traded with a low of 1.4307 and a high of 1.4443 before closing the day around 1.4325 inthe New York session. Looking ahead, June PMI Manufacturing forecast at 53.8 vs. 56.1 previously.

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