Euro rebounds strongly today on news that ECB is going to grant 78 banks EUR 111.2b of funds for six days to assist them in coping with expiry of the 12 month loan which totals EUR 442b. The announcement overshadowed downgrade risk of Spain and helped Euro extends its rebound.
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Mid-Day Report: Euro Rebounds on ECB Six Days Loan, USD/JPY Broke 88
– July 1, 2010Posted in: Forex Daily Outlook