EURO gave ground on sentiment that ECB may not be so quick to hike rates after German IFO reading is worst since 2005. Oversold conditions in Yen had dollar making advances well into early in the Asian session and Sterling euphoria after retail sales has all but disappeared. This is a choppy time in the markets ahead of FOMC on Wednesday as well as the approaching quarter end. The Prosticks video below does not lend too much insight on direction either as the technicals on majors seems stalled accross the board.
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June 23, 2008
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