EUR/USD - 1.3712.. The intra-day ferocious intervention by SNB aimed to weaken the chf vs eur did not benefit eur/usd as the single ccy only staged a minor rebound to 1.3724 after initial selloff to 1.3669. Euro bears are in full control esp in European time zone, offers fm 1.3730-50 area with reported bids abv 1.3650 to defend another option barrier rumoured to be at 1.3650 (downside barriers are now meant to be broken !). Y'day's selloff in DAX, CAC & FTSE (all down by over 2%) due to increased credit woes in Greece, Spain & Portugal n today's broad-based weakness in Asia shud continue to spook investors to be risk averse n usd & yen wud be bot as safe-haven currencies.
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