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Forex - EUR/USD, USD INDEX Flows - WSJ: EU Urges Ireland to Take a Bailout; EUR offer 1.3750
Written by article default Monday, 15 November 2010 09:52
Euro eyes Ireland : to Bailout or not to Bailout? EUR/USD edging toward day high 1.3723-25, vs NY Fri close 1.3695, as speculation that EU is close to agreement on Ireland bailout, thus taking away some uncertainty. Though could see selling pressure in EUR again, on buy rumours, sell the fact news. EUR offers 1.3745-50. WSJ: European officials are encouraging Ireland to accept a bailout to restore confidence in its solvency and stop the spread of financial-market turbulence to other euro-zone members, according to senior EU officials. Many European policy makers increasingly believe that early action on Ireland would be better than waiting until markets force the country's hand, recalling that repeated delays in coming to Greece's aid earlier this year led to a near-collapse of investor confidence in the whole euro zone, officials say. More next. USD INDEX at 77.989, off 78.128 high.