EUR Trading Outlook (27-06-2012)

The Euro (EUR) the EUR/USD eased back below 1.2500 again overnight with the downgrade of Germany by Egan-Jones adding weight but support was seen by talk in the market that the ESM may drop its preferred creditor status in helping countries. Other comments ahead of tomorrow’s EU summit came from German’s Merkal once again lowering expectations stating Europe will not have shared liability as long as she lived.

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