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Euro & 4 Reasons Why Its Down Today
After hitting a high of 1.1825, the euro sapped a two day rally to end the day lower against the U.S. dollar. Unlike some other major currencies, there were no less than 3 reasons why euro came under selling pressure today. First and foremost, the U.S. dollar is trading higher against all of the major currencies today and probably would not have seen EUR/USD turn lower if it wasn’t. Eurozone data also missed expectations with the expectations component of the German ZEW survey falling to 10 from 17.5. Although investors feel good about how the German economy is performing now, they have not been this weary of the ... (full story)