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Tuesday, November 28, 2006
EUR/USD: Retest of Spike Highs but Rally Sputters
Despite a breakout in the bond market and rising odds of an early 2007 rate cut from the Fed, EUR/USD has been unable to sustain gains above the 1.3180 level. Rumored selling from the BIS has helped slow the advance, dealers report. Small stops are eyed just below 1.3150 now from intraday longs.
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