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After Forming New High Against the Dollar, Euro Retraces Its Steps

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Grace Cheng submits:

On Wednesday, the US dollar strengthened against most other currencies including the Euro, Swiss franc, Japanese yen and British pound.

The Euro broke above the crucial 1.6000 level against the dollar yesterday but it only managed to hit a high of 1.6020 before falling due to some Euro longs bailing out. EUR/USD is now trading below 1.5900.


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