EUR/USD: The common currency strengthened considerably with full fundamental support as Paris and Berlin backed emergency fund update helped improve bond market activity and tightened spread between sovereign bonds. Broad-based USD’s weakness also provided EURO bulls with some level of support but data hinting at declining auto sales and increasing jobless claims capped EURO’s rally. The pair seems steady slightly below mid-1.09 handle as traders await US data and senate testimony for short term trading cues and profit opportunity.
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