EURUSD moves higher.
Written November 27, 2007 at 8:29 AM EST by Greg Michalowski
The EURUSD moved higher to 1.4900 from 1.4845 as EURJPY also rebounded and volatility increased. Overnight the German IFO index for November rose to 104.2 vs 103.9 last and expectations of 103.3. In addition, the IFO Economist was quoted as saying that the stronger EUR is not so dangerous as many expected. The stronger figure and comments seem to be providing some support for the currency, with intraday support now coming in at 1.4883 and 1.4868.
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