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EUR Trading Outlook (27-07-2011)

The Euro (EUR) the Euro was the main gainer from the US Debt issue and closed above 1.4500 in a strong technical break higher. Stock markets are under pressure but the usual safe haven demand for the Dollar is not there with CHF and Yen in demand instead. Overall the EUR/USD traded with a low of 1.4356 and a high of 1.4526 before closing the day around 1.4510 in the New York session. Looking ahead, German June Import Prices forecast at 0.7% vs. 1.6% previously.

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