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EUR Trading Outlook (23-03-2012)

The Euro (EUR) the EUR/USD fell to 1.3150 as the losses mounted overnight after both the Chinese and Eurozone manufacturing surveys fell sharply and stock markets slumped. EUR/AUD was the exception using the commodity pullback to gain against the risky Aussie and this helped contain the major’s losses. Concern is turning towards Portugal and Spain with a Major Portugal strike highlighting popular opposition to government austerity measures.

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