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EUR/USD - Interest Rates Overshadow Sovereign Debt
EUR/USD volatility increased intraday as an abundant amount of market information moved the market. Traders continued to stage their positions ahead of influential ECB interest rate decision coming this Thursday. ECB is expected to increase the interest rates by a 25 basis point during the next decision and as much as 75 basis points by the year end. Nonetheless, overly neutral tone of Bernanke in his speech yesterday has spurred minuscule Dollar strength. It is still probable that interest rates will not be increased in the U.S. for at least 12 months.
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