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EUR Trading Outlook (24-08-2012)

The Euro (EUR) the EUR/USD hit fresh highs intraday as crosses continued to be unwound especially against the AUD. The EUR/AUD has risen from all-time lows near 1.1600 to above 1.2000 overnight as traders take profit and bet on the survival of the Euro. There are very important meetings going on at the moment with France/Germany and Greece. Greece is hoping for more lenient loan measures but Merkal and Hollande will likely wait for the Troika report before announcing any adjustments. The other main story out of Europe is talk that Spain is discussing terms of aid with the Eurozone.

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