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Session Recap: Euro advances as the Greenback take a breath

FXstreet.com (San Francisco) - The euro traded higher on Tuesday as market hopes on QE was fueled by the Dudley and Bullard's speeches and the lack of mention about the Fed tapering the bond buying program in the middle term.

The Greenback traded mixed and the Yen performed in wait-and-see mode focused on the BoJ meeting. The AUD/USD seems to have found bottom at the 0.9710 area.

In majors, the EUR/USD recovered ground to close above the 1.2900 area; the USD/JPY traded sideways around 102.50; and the GBP/USD collapsed to test the 1.5110 area. The EUR/GBP was the winner of the day after jumping around 80 pips to close at 0.8520.

Main headlines in the American session:

German Labor minister: A New Deal is necessary in Europe

World Banks’ Kim says bank has downgraded forecast for eurozone

No hints on what’s next from Bullard

Fed’s Bullard: Can’t envision a good case for tapering unless inflation turns around

Wall Street closes positive on hopes that Fe will keep QE

Wall Street closes positive on hopes that Fe will keep QE

Another Tuesday and another rally. The US stocks market closed its 19 positive Tuesday in row as investors' confidence was fueled byt Fed officials Dudley and Bullard's comments that suggested the central bank won't reduce QE in the middle term.
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The EUR/USD closes above 1.2900; to buy or not to buy

The EUR/USD closed on Tuesday its second positive session in row after bottoming at 1.2800 on May 17th. The pair was fueled by the Fed's Dudley and Bullard's speeches and the lack of comments about the Fed tapering bond buying. The EUR/USD rallied from 1.2840 to be capped at 200 hours MA at 1.2935.
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