EUR/USD - 1.3965.. Euro has shown good resilence on the downside as buyers emerged on dips as despite intra-day cross-inspired retreat fm 1.3978 to 1.3947, renewed buying lifted the pair. Expect choppy trading with a nr term upside bias but offers are touted at 1.3970-00 area n bids at 1.3950 n below but some stops are placed below y'day's European low of 1.3912. Main foucus today is EU's statement/verdict on Greece's budget rescue plan scheduled to be released at approx. 10:30GMT. Market so far has not reacted to y'day's UK Telegraph's report that auditors told the Greek parliament that it had uncovered eur 40 bln of 'hidden debts' during an investigation into past manipulation by the financial authorities.
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