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Buying at the London Fix

Posted by Joseph Trevisani on Jun 13, 2013 11:41:00 AM

Strong buying through the 4:00 pm London fix, 11:00 am in New York, squelched downside momentum in the euro and sterling. From 3:58 pm to 4:09 pm in London the euro shot up 50 points, 1.3294-1.3344, and the sterling soared 56 points, 1.5679-1.5735.  The purchases countered good selling pressure in both currencies which had been near their lows of the session before the rush higher began.

WorldWideMarkets

Charts:Bloomberg

ScreenHunter 1291 Jun. 13 11.48

ScreenHunter 1292 Jun. 13 11.49

 

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