The euro broke back up through 1.2800 with the rise squeezing intra-day speculative shorts after the earlier four month low at 1.2745. Rate extends recovery off earlier lows at 1.2745, bouncing on a retest of the 1.2750 level as it met reported semi official buys. Rate pushed up to 1.2861 but seems to be fading. Offers now seen above Wednesday's highs at 1.2865 ahead of 1.2870/80.
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