The Euro (EUR) broke above 1.3100 and is nearing a key resistance at 1.3140-80 (Oct 17 High) where the bears are expected to make a stronger stand. Tail risk is the scenario where the Eurozone breaks up or a country defaults on debt. There has been a significant drop in the tail risk out of Europe over the last month with progress being made on crises out of Greece and Spain.
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