EUR Trading Outlook (31-07-2012)
The euro (EUR) recorded losses against most of its major counterparts as it was revealed that positive comments by the European Central Bank (ECB) President Draghi over the past week were not the result of any resolution or plan. Therefore, Thursday’s policy statement by the ECB and the press conference that will follow, are expected to provide a catalyst for either higher highs or lower lows. Versus the US dollar (USD), the single currency rose to 1.2259 from 1.2302.
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