China saying that they know nothing about a reserve currency debate has the USD slightly firmer this afternoon. EURUSD has had a couple of attempts at 1.4100 over the last hour and a half but has held firm each time. Bids are lined upbetween 1.4080 – 1.4100 and the base should hold in the Asian time zone. Option related bids are at 1.4000 and option related sellers at 1.4200. Here in the middle of the range I would stay away until edges are seen. Under 1.4080 should see us back to low 1.40’s.
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Wednesday, July 1, 2009
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