In the world of currency today the only word associated with the Euro or Pound was Buy Buy Buy!
Traders spent today Buying Euros, Buying Pound, Buying Australian Dollars and Buying anything else that wasn’t the US Dollar, as poor US Data suggested that Subprime and Housing Market are pushing the US into a recession. GBPUSD was back above 1-9600, EURUSD 1.4800 and the Australian Dollar 0-9195.
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