Daily Strategic Report

OVERVIEW The BIG news from Wednesday was that Germany had a failed bond auction for the first time since the Credit Crisis. Aprroximately a third of the issue was left on the shelf, and is seen as a major vote of ‘no confidence’ in the eurozone’s future. It also adds a further twist to the ‘risk off’ sentiment that is sweeping the world’s markets. On the exchanges the euro suffered but has since found support at lower levels. Other currency pairs have by and large struggled to extend the moves

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