Wednesday, February 29, 2012
European sovereign yields are mixed, with Greece and Portuguese bonds still under pressure
The Street - The euro had tested the upper end of its recent range in Asia, setting a new high for the week, but unable to absorb the large offers around $1.35. It came off after the LTRO results, but initial support in the $1.3420 area held. Additional support is seen near Tuesday's low. Sterling is benefiting from the combination of better domestic data and technical momentum after recently breaking through its 200-day moving average.
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