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Forex: EUR/USD retreats to 1.2340

By FXstreet.com,  June 17, 2010, 11:40:00 AM EDT

FXstreet.com (Córdoba) - The Euro pulled back against the Dollar after the opening bell at Wall Street and fell to 1.2340 but recovered strength in the last hour as stock in the US moved away from the lows. The pair is back above 1.2350 but is still far from daily highs that lie at 1.2411.

Despite falling back below 1.2400, is consolidating important gains and is headed toward the second weekly gain in a row and continues to move away from 4-year low.

The Euro is also rising on Thursday against currencies tied to commodities. EUR/AUD jumped to 1.4365 reaching the highest price in a week. EUR/CAD extended weekly gains and during the European session rose from 1.2600 to 1.2775, 2-week high.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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