The Euro (EUR) the EUR/USD short covering began as rumors of G7 meeting and new plan to tackle the debt crisis swept the market on Monday. Talk is that the ECB and EU leaders have been charged with drafting proposals for a deeper fiscal Union by the end of the month. The EUR/USD moved from 1.2400 to 1.2500 in the US session and has popped higher in Asia on confirmation the G7 will be having a meeting today.
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