First and foremost, the currency fell victim to risk aversion, giving up all of its initial post NFP gains once the U.S. stock market opened. Secondly, the ECB’s attempt to brush off any speculation of a rate cut left investors wondering how much longer the central bank can keep an optimistic front with economic data deteriorating.
http://www.fx360.com/commentary/kathy/7526/fx-whats-the-chance-for-losses-next-wk.aspx
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