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EUR/USD High on Fed Dovish Tone

December 24, 2009 by

The EUR/USD currency pair had the sharpest advance in two weeks today, after the dollar rallied significantly on speculations that the Federal Reserve could lift stimulus and raise interest rates in U.S. sooner than expected, attitudes so far declined by the U.S. central bank that erased optimism among traders which expected the economic recovery in the country to bring immediate favorable monetary policy changes. Currently EUR/USD remains bullish after this Thursday’s U.S. reports were publish, trading at 1.4391.

Durable goods orders advanced by 0.2% in November compared to October. In the previous month it declined 0.6%. The median forecast for this indicator’s growth estimated an increase of 0.6%.

Initial jobless claims came positively touching 452k last week from a previous reading of 480k. Forecasts were more pessimist than actual figures at 471k.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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