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Treasury Budget Deficit Shrinks, EUR/USD Rises

September 13, 2010 by

The euro jumped against the dollar today with improving outlook for global recovery. Today we had only one report: about treasury budget. It showed that budget deficit significantly shrank in August. EUR/USD trades now at 1.2871.

US treasury budget posted a deficit of $90.5 billion in August, compared with the previous reading of $165 billion. The forecast deficit was $102.5 billion.

On Friday a report on wholesale inventories was released, which showed a growth by in 1.3% in July, following 0.4% advance in the month before.

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

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