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Session recap: Euro attempts to fill gap

FXstreet.com (San Francisco) - After opening with heavy losses and gaps from Friday close, the Euro has been trading in recovery mode throughout the Monday session. The single currency was pressured to the downside by news from Cyprus and its bailout and levy. Investors has been concerned and stocks posted sharply losses.

EUR/USD recovered from 1.2880, lowest since December 7 to close above the 1.2950 area. The EUR/USD bounded at 0.8520, lowest since February 11 to test the 0.8590 level and the EUR/JPY set back losses from 124.50, lowest since March 6, to test the 124.00 area.

Main headlines in the American session:

American equity markets tumble on Cyprus

Commodities Brief – Gold retakes 1600 level, commodities rally on increased demand outlook

US: NAHB Housing Market Index eases to 44 in March

Forex: USD/CHF trading positively at 0.9438/39

Forex: USD/CAD regressing to 1.0200 line

Forex: EUR/USD accelerates to test daily highs at 1.2975

Forex: GBP/USD bounces off 1.5100

Fundamental Afternoon Wrap: Markets overlook Cypriot shock as Italy and UK jostle for limelight

Forex: AUD/USD testing the 1.0400 region

Cypriot banks to remain closed until Thursday

Forex: EUR/USD back at 1.2950/55

US lawmakers plan to meet ahead of March 27 deadline

Forex: USD/JPY trading sideways at 95.08/10

Forex: EUR/USD rises to test 1.3000

US markets trim losses after a grim start on Cyprus

Forex: USD/CAD inching higher, around 1.0220/25

Wall Street closes lower on Cyprus concerns

Cyprus meeting: More flexibility on levy with a Tuesday vote as planned

Cyprus meeting: More flexibility on levy with a Tuesday vote as planned

As Reuters informed, Cyprus has been granted more flexibility on the bank levy according to the Greek finance ministry. Cyprus should safeguard protection of depositors below €100K, but in the same line, the island will still have to raise €5.8 billion in bank levies.
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Forex: EUR/USD, 1.2965/75 intra-day supply protects upside

The Euro was able to muster some 30+ pips in the past hour following news that Cyprus has been granted more flexibility on small - below 100k - bank deposits levy, Reuters reported, citing the Greek finance ministry.
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