Market Moving News: EUR/USD - May 27

By IBTimes Staff Reporter | May 27 2010 3:49 AM

Eur/usd - 1.2263 ... St. Louis Federal Reserve President James Bullard said European debt worries helped drive down long-term U.S. yields n he did not expect contagion fm Europe's fiscal problems to the United States n the world's biggest economy may actually benefit fm a 'flight n safety'. Despite early rally to 1.2343 on active short-covering due to the rise in European stock markets, the single currency pared some of the gains n retreated strongly to 1.2249 in part due to Bullard's comments.

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