The failure by EUR/USD to break beneath the lows registered last - TopicsExpress

The failure by EUR/USD to break beneath the lows registered last week, at 1.2985, while the Usd elsewhere was hitting its highest levels in a month against the JPY and CHF, has seen the pair return back to 1.3030. Reserve name bids have been notable in the response to the move down to 1.2990. Meanwhile, the ECB had announced that the use of the EUR as a global reserve currency declined in 2012 by 1.2% to 23.9% of all foreign currency holdings, with President DRAGHI not surprisingly saying that the EMU debt/economic crisis adversely impacted.

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