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Euro rebounds against dollar after hitting new 6-month low

Published 01/28/2010, 02:36 AM
EUR/USD
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The euro rebounded against the dollar during the Asian trading session on Thursday, after plummeting below 1.4000 for the first time since July 15 last year.  

EUR/USD recovered to 1.4026 after earlier hitting a new 6-month low at 1.3929, where it is likely to find support. The pair is likely to find resistance around 1.4039, its daily high.  

The greenback’s sharp rise against the euro was boosted by speculation over higher interest rates in the United States later in the year, following the U.S. Federal Reserve’s acknowledgment late Wednesday of a slow improvement in the economy.

 

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