USD Trading Outlook (17-02-2012)

U.S. Dollar Trading (USD) a dramatic day of trading saw the EUR/USD test the major 1.3000 level before reversing sharply to 1.3150 on news that Greece expects the Eurogroup to approve its loan on Monday. This combined with good US data after weekly jobless claims fell to 348k vs. 361k previously. Also strong is the February Philly Business Conditions jumping to 10.2 vs. 7.3.

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