European Session: Orders and Options Watch
EUR: Despite yesterday’s rise on news that German parliament passed the EFSF bill, as indicated in our previous update that traders already priced in this vote outcome and took profit on longs thereafter. The single currency then retreated on report that ecofin meeting on 3 Oct would not decide on EFSF expansion, Fitch’s downgrading of New Zealand rating also put pressure on euro. Stops below 1.3590 and 1.3550 were triggered but decent demand is still seen at 1.3520 with
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