EUR Trading Outlook (31-05-2012)
The Euro (EUR) the deepening Spanish crisis is reaching a critical stage where the fate of the union is now in the hands of EU officials in the next few weeks. Spanish bond yields crept to 6.7% and analysts suggest the 7.0% level is where panic will enter the bond market and heavy selling may be seen. Focus is on the EU leaders for concrete action to bring some confidence back into the market. Fresh year lows near 1.2350 were seen before we stabilized.
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