EUR Trading Outlook (25-07-2011)

The Euro (EUR) broke below 1.4400 but found support and finished close to the figure even as rating agencies looked over the Greece debt deal to decide whether it was a default or not. German IFO fell back to 112.9 vs. 114.5 previously on global growth concerns. Overall the EUR/USD traded with a low of 1.4322 and a high of 1.4437 before closing the day around 1.4360 in the New York session.

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