EUR/USD had an initial spike as the Italians managed to sell bonds during the morning. However, the almost 8% yield is something that many traders are worried about, and the 1.35 level seems to be far too strong to be overcome. We believe in selling rallies.
EUR/GBP didn't bounce much at all during the Tuesday session. The path was straight down, and this shows that the Euro could be in real trouble going forward. The Pound is winning this battle of ugly currencies at the moment. Now....can we break down through 0.85?
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