EUR Trading Outlook (12-08-2011)
The Euro (EUR) was volatile in a 200 pip range between 1.4100 and 1.4300 but finishing well supported with EUR/CHF moving up near 6% on the day after talk the Swiss may peg their currency to the Euro. Eurozone banking stocks bounced after fears subsided but the market is still very cautious. Looking ahead, June Industrial Production forecast at 4.4% vs. 4% y/y previously.
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