EUR Trading Outlook (15-08-2012)
The Euro (EUR) some better than expected German Q2 GDP figures helped the Euro hit day highs above 1.2380 but this was short lived as the major fell back to lower 1.2300 region after the strong US data. Some negative headlines emerged later regarding Greece asking for an extension of the Austerity deadline by two years. Germany has recently stated it will not renegotiate bailout terms with Greece and it is becoming more politically difficult for German politicians to be lenient.
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