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Forex Flash: EUR/USD: Rise to 1.3150 won't really improve the technical tone - BBH

The euro has been largely confined to yesterday's range and this is consistent with the signal coming from the 2-year differential between the US and Germany, according to the BBH analyst team. "That spread rose to 17 bp yesterday, the highest US premium since January 9. The driver of the spread is the German leg and today the Germany 2-year is flat".

Technically speaking, the BBH team notes that the euro can rise into the 1.3130-50 range without "really improving the technical tone".

In the US, durable goods orders may get attention early, but Bernanke's testimony will be watched closely. Even though his prepared remarks will be identical to yesterday's, the Q&A will be different. The looming sequester and the new risks from Europe give Bernanke additional fodder for his defense of the Fed's long-term asset purchases.

Forex Flash: EUR/USD would keep the current levels near-term – Rabobank

The bloc currency clings to the key level at 1.3100 on Wednesday, after better data from the euro area improved the sentiment and pushed the cross from the mid 1.30s...
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