The Euro (EUR) surged back above 1.3400 to complete a 400 point rally from sub 1.3000 levels earlier in the week. October Retail Sales gained 0.5% vs. -0.2% previously. The strong rally in the Euro off lows does not reflect Eurozone strength but is a better reflection of USD weakness. EUR/USD traded with a low of 1.3194 and a high of 1.3414 before closing at 1.3408.
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