The EUR/USD is traded higher on Wednesday following a prolonged setback. Helping to boost the Euro was the news that Italy reached its target in a bond sale and a report showing German Consumer Confidence improved in February.
Despite the better than expected bond auction, the focus remains on the deadlocked Italian election results. Traders have been expressing optimism that a solution can be reached without moving the Euro Zone back into crisis mode. The positive bond auction results indicate that there are still buyers, leading some speculators to believe that the election deadlock situation is being overblown.Continue Reading...
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