EUR Trading Outlook (19-08-2011)

The Euro (EUR) the Euro slumped on fears that large banks in the Eurozone were having funding issues. EUR/CHF and EUR/JPY led the major lower which found support at 1.4300 eventually. The ECB is continuing to support bonds in the debt market which is at least containing the debt issue but if a large bank was to fail the contagion may spark a fresh banking crisis in Europe.

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