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EUR/USD: Corporate seen buying dips

By   || September 2, 2010 at 14:26 GMT
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Traders report a European corporate is buying EUR/USD on the dips toward the 1.2800 level, absorbing some decent-sized spec selling.

Why would a European company buy its own currency? Most likely to repatriate profits earned abroad…

Turnover is relatively high today within a 50 pip range in EUR/USD. Looks as though folks want to take care of business before tomorrow’s NFP sends the market spasmodic…

EUR/USD trades now at 1.2815.

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