Friday June 4, 2010 - 19:49:02 GMT
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Forex Hound - www.forexhound.com
Euro Hovering around Four-Year Low
The EUR USD reached a four-year low this
morning, driven lower by fresh fiscal problems from Hungary
and a weak U.S.
payroll figure. Concerns about Hungary‚Äôs
fiscal situation initiated the break before the New York
opening, while the U.S.
jobs data helped accelerate the move to the downside.
The weaker-than-expected U.S. employment
report helped trigger a flight-to-safety rally in the Dollar while driving
investors out of commodity-linked currencies. Aversion to risk is helping to
equity markets, helping to drive up demand for the lower-yielding Japanese Yen.
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