Daily Video Recap (5/13): Pound and Euro Continue Their Declines
Sunday, May 16th, 2010
The EUR/USD tested important resistance at the end of today’s session as it remains on the backfoot on debt and growth concerns. The Pound fell to a new low for this week on similar concerns as well.
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Analyst: Nick Nasad
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Duration : 0:8:1
The Euro slid today as investors and traders focused on the shortfalls in the rescue package and the weaker growth expected if austerity measures are to bring down large deficits. That despite a stronger-than-expected 1st quarter GDP release. The Pound was weaker on similar issues.