EUR Trading Outlook (11-07-2012)

The Euro (EUR) the German news added to an already shaky sentiment and a small relief rally was reversed in Europe down to 1.2225 before stabilizing at 1.2250. The EUR/JPY is on a steady downward trend falling to Y97 and is concerning to Japanese Official worried about exports to Europe. Investors are hoping for a quick agreement from EU members for the implementation of the ESM so that Spanish banks and Bonds may be supported.

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