EUR Trading Outlook (16-08-2012)
The Euro (EUR) the EUR/USD suffered at the hands of the stronger USD falling back below 1.2300 in a gentle move lower. EUR/JPY buying is supporting the major and if US stocks continue to rally it is hard to see the EUR/USD continued to be sold on strong the US data alone. The EUR/USD is not the preferred risk currency however so EUR/AUD and EUR/GBP both fell on the day.
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