Finally happened |
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The moment investors were waiting on finally happened. The Eurodollar reached a new all-time high at 1.6039 on Tuesday. There was no clear impulse for such strong action. What caused the depreciation of the American dollar was the worsening investment climate on global stock exchanges causing an exodus from assets denominated in U.S dollars. Macroeconomic news that were published later on during the week, caused the EURUSD to retreat all the way to 1.5850. The main reason for this correction
Filed under: Fundamental
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