ForexLive US Wrap: Backing and Filling After Strong EUR/JPY Rally Stalls
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EUR/JPY was hard hit at mid-morning after the White House announced that it would veto Speaker Boehner's plan. We fell swiftly from 112.59 to 111.60. The components fell along with the cross as USD/JPY dropped from fresh 2012 highs of 84.60 to 84.20 before rebounding to close at 84.20, the highest close since April of 2011.
EUR/USD pulled back to 1.3240 from highs just above 1.3300 in early New York trade. Cable sputtered just above 1.6300.
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