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8 Mar 2013
Forex: EUR/USD hits fresh 3-month low
As the dollar continues to strengthen in the wake of an impressive US jobs report, EUR/USD was dragged below the 1.3000 mark in recent dealings toward a fresh 3-month low.
Despite the risk appetite boost, which usually is negatively correlated to the USD, the greenback surged as the positive figures lower prospects of further easing by the Fed. Unemployment rate is inching closer to the Fed's 6.5% target for when it will consider withdrawing easing measures.
At time of writing, EUR/USD is trading down 1.1% at the 1.2960 zone, having posted a fresh 3-month low of 1.2956 in recent dealings.
Despite the risk appetite boost, which usually is negatively correlated to the USD, the greenback surged as the positive figures lower prospects of further easing by the Fed. Unemployment rate is inching closer to the Fed's 6.5% target for when it will consider withdrawing easing measures.
At time of writing, EUR/USD is trading down 1.1% at the 1.2960 zone, having posted a fresh 3-month low of 1.2956 in recent dealings.