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Forex Flash: EUR/USD only temporarily lifted by EU summit - UBS
FITITOL--> FXstreet.com (Córdoba) - Risk taking was rather strong on Friday and weak on Monday. "Friday was the last trading day in June and half year book closing certainly urged some investors to close their extreme short positions in euro and some emerging market currencies", says the UBS analyst team."The summit, we think, will have only a limited medium-term positive effect on the euro", UBS says. "Our call for more weakness in the euro is based on subdued growth in Europe and the summit decisions do not alter that outlook so far".
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