Read This Report Below:
source: BBH
"The European Commission maintained its 2012 euro zone growth forecasts at -0.3% and sees 1% growth in 2013. The political situation in Greece remains uncertain, but a deal to form a unity government in the coming days would be a positive surprise and avoids new elections in June. This may provide a temporary boost to the euro, but we advise selling into rallies to position for a steady grind lower over the coming weeks. EUR/USD resistance is seen near the top of the recent gap around 1.3080 and support near 1.2900." BBH Global Currency Strategy Team.
"The European Commission maintained its 2012 euro zone growth forecasts at -0.3% and sees 1% growth in 2013. The political situation in Greece remains uncertain, but a deal to form a unity government in the coming days would be a positive surprise and avoids new elections in June. This may provide a temporary boost to the euro, but we advise selling into rallies to position for a steady grind lower over the coming weeks. EUR/USD resistance is seen near the top of the recent gap around 1.3080 and support near 1.2900." BBH Global Currency Strategy Team.
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