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Friday, December 15, 2006
EUR/USD: Cross Sales Prompt Set-Back
EUR/USD slipped back to 1.3150 with very heavy sales of EUR/JPY getting the blame from dealers. Upbeat TIC data and a slight improvement in industrial production are contributing a bit to the USD recovery. 1.3130 should contain dips near-term while resistance lies at 1.3185/95.
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