The Euro (EUR) the EUR/USD enjoy a brief rally to 1.3080 but this was wound back after Rating agencies continued to warn European countries with downgrades if the debt crisis continued. Belgium was downgraded after the close but this had little effect on the Euro trade. October EU Trade Balance fell to 0.3bn vs. 2.2 bn previously. Looking ahead, Current Account forecast at -2bn vs. -2.5bn previously.
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