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28 Aug 2013
Flash: EUR/USD unaffected by German Ifo - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that ECB board member Amussen reiterated that interest rates should stay low levels for an extended period of time while the EUR/USD failed to garner any significant mileage from the better than expected German Ifo readings.
Key Quotes
“The pair however managed to recover from intra-day lows to end a touch on the day above 1.3380.”
“It remains to be seen if the EUR/USD can continue to weather any escalation of global jitters, but in the interim, the pair may continue to contemplate the 1.3400 ceiling with subsequent resistance expected towards 1.3420.”
Key Quotes
“The pair however managed to recover from intra-day lows to end a touch on the day above 1.3380.”
“It remains to be seen if the EUR/USD can continue to weather any escalation of global jitters, but in the interim, the pair may continue to contemplate the 1.3400 ceiling with subsequent resistance expected towards 1.3420.”