EUR Trading Outlook (27-10-2011)
The Euro (EUR) the market moved towards 1.4000 on the news of the EU Summit deals but earlier had hit 1.3800 as disagreements spooked the markets. The New Greek deal is reportedly a 50% haircut and also announced was the expansion of the EFSF to 1.4trn through leveraging the current fund. Adding to the positive sentiment was comments that Europe will also look to further integrate economically. Looking ahead, traders will dissect the EU deal and react to commentary post summit.
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