The Euro (EUR) the buying from 1.3000 fizzled out at 1.3140 even with the announcement by Japanese FM that Japan would be buying European bonds via an investment in the ESM (Rescue Fund). There was no appetite for a further rally and when France downgrade rumors swept the market we saw day lows near 1.3060. EUR/JPY is key for daily direction recently and has been easing from Y116 to Y113.50 overnight.
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