Spot Forex: Latest Headlines
Posted 7/30/2010 3:08:00 AM Only a limited, temporary negative reaction it seems to the Moody's
headlines on Spain (AAA rating may go down a bit) in [EUR/USD]. Literally
buoyant EU data over the last week or so, contrasting with more economic
numbers woes and now fiscal concerns out of the US continue to drive this
market higher. It does not seem to overly matter whether it is a risk
on/off market or driven by Dollar aversion, the Euro has stayed a relative
broad winner (apart from the Yen most recently) and if fix talk has any
truth it should further underpin here today. Options players supposedly
looking even higher towards 1.3250 in the next week or so, although it is
worth noting that a number of late Jun/early Jul buyers here were looking
to take profit into 1.3100 so do not rule out some profit taking here
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