EUR Trading Outlook (19-06-2012)
The Euro (EUR) traded in a 200 pip range from 1.2750 to 1.2550 with the failure of the Spanish bonds to drop back from fresh debt crisis highs. The market is hoping some sort of ECB action will be able to put a more permanent lid on the crisis but the political climate in EU powerhouse Germany is making it hard for fresh ideas to gain traction. Indeed Chancellor Merkal has warned Greece that it will not get easier terms for bailout funds.
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