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EUR Trading Outlook (26-07-2011)

The Euro (EUR) the Euro was well supported even with stocks down as the market is wary of buying the USD while the debt debate rages on in Washington. Moody&rsquo s downgraded Greece once again and warned of investor losses from the EU rescue plan. Overall the EUR/USD traded with a low of 1.4324 and a high of 1.4408 before closing the day around 1.4390 in the New York session. Looking ahead, August GFK Confidence forecast at 5.6 vs. 5.7 previously.

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