Monday, 4 November 2013

Currencies: EUR/USD Nosedives After Low EMU CPI

Sentiment on EUR/USD changed profoundly at the end of last week. The dollar was in better shape after the FOMC statement. The euro was hit as an unexpectedly low EMU CPI raised expectations for more ECB easing. EUR/USD is testing the 1.3462 support area. Overall euro weakness also sent EUR/GBP back to the mid 0.84 area

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