Mid-Day Report: EUR/USD Fails to Sustain Above 1.3 as Risk Aversion Strikes Back

Jul 20 2010

Euro is somewhat hit by risk aversion and retreat sharply after jumping initially to 1.3027 against dollar and fails to sustain above 1.30 level. EUR/JPY also bounces off from 113.40 resistance again. US housing starts fell more than expected to 549k in June, hitting the lowest level since last October.