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Euro rises on German data, uncertainty before ECB
The euro rose on Wednesday after stronger-than-expected German industry orders increased uncertainty over whether the European Central Bank would cut interest rates this week in response to a steep fall in inflation. The euro has dropped sharply from levels above $1.38 touched before last week's inflation data. But some investors were wary the ECB may not adopt a very dovish tone at Thursday's policy meeting and took profit on the currency's fall, traders said. Some see a risk that the central bank could lower interest rates or at least lay the ground for such a move, though only one of 23 money market traders polled ... (full story)
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