The US dollar once again set significant lows against major trading counterparts, with the morning’s Trade Balance data doing little to stem bearish momentum.
The EUR/USD hit all time highs in overnight trade, coming within a whisker of the 1.3800 level as bullish GDP data and supportive comments from German Economy Minister Michael Glos, maintained the rally in the pair.
Rhetoric from the EU supported yuan bidders as comments by EU Trade Commissioner Peter Mandelson prompted speculation of retaliatory sanctions by the conglomerate economy.
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