EU economics czar Almunia, channeling Rodney Dangerfield, says the Euro doesn't deserve its bad image. He must not have been around in the bad old days of 2000 when the EUR was trading at 0.82 and was a laughing stock.
Some would venture to say that it does not deserve its good image, trading near 1.30 despite the presence of countries like Slovenia in the Euro area. EUR/USD is trading quietly near 1.2960 with support coming via purchases of EUR/JPY by US investment names. Bids are seen in the 1.2950/55 area near-term.
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