Forex: EUR/USD spikes above 1.3800 on EFSF rumors
Tuesday, October 18, 2011
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Source : FXstreet.com
The Euro received a boost in recent trade along with other riskier currencies while the Dollar plunged amid reports that Germany and France
EUR/USD rose over 70 pips in a matter of minutes, breaking through 1.3800 to set a fresh day's high of 1.3816 so far. At time of writing, EUR/USD is hovering around 1.3800, recording a 0.3% gain on the day.
The pair had fallen as low as 1.3652 earlier on Tuesday, weighed by disappointing data on German economic sentiment and Moody's warnings on France's rating outlook.
EUR/USD rose over 70 pips in a matter of minutes, breaking through 1.3800 to set a fresh day's high of 1.3816 so far. At time of writing, EUR/USD is hovering around 1.3800, recording a 0.3% gain on the day.
The pair had fallen as low as 1.3652 earlier on Tuesday, weighed by disappointing data on German economic sentiment and Moody's warnings on France's rating outlook.
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