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Date Posted: 01:06:57 07/09/12 Mon
Author: Charisse Bartoli
Subject: Euro leads early rebound

The weekend was largely free of bad news from Europe and as a consequence, the rebound trade is setting in for the euro following last week's sharp falls. The dollar index is retreating from the highs as the EUR/USD rallies 0.25% and the EUR/JPY pushes 0.23% higher.

The GBP/JPY is also pushing higher, but in general, there other forex pairs are quiet so far this morning with the AUD/USD struggling this morning after Chinese CPI came in below estimates.

Today we have European Sentix Investor confidence at 09.00 following by ECB president Draghi speaking at 13.30.
At 15.30 we have the release of the Bank of Canada business outlook survey. At 16.30 MPC member Tucker speaks at the LIBOR enquiry.

Last week the US dollar index flipped back firmly into over bought territory with the euro and British pound heading in the other direction.

With the 1.5450 level potentially acting as support for the GBP/USD, now could be a good time for further upside. A HIGHER trade on BetOnMarkets.com predicting that the GBP/USD closes higher than 1.5600 in 22 days time could return 139% if successful.

Get this trade now, go to: http://goo.gl/U0QDq

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