Following Merkel's defeat in an important region of Germany resulting the Euro to drop, and a speech by Trichet which made the Euro to rise slightly against the Dollar to 1.4095, more news appear to affect the currency – The Gfk German Confidence Index was released this morning with lower results of one notch at 5.9 than the past month's figures but meeting the expectations.
This news elevated the EUR from 1.4108 to 1.4131 in less than half an hour.
EUR/USD is currently trading at 1.4127
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