Euro rallies on Eastern Promise

Today’s better-than-expected Chinese GDP, industrial production and retail sales data, along with yesterday’s successful French bond auctions, have set the ball rolling for high yield currencies. French bond auctions fared well yesterday despite the mass downgrading of nine Eurozone countries on Friday. Meanwhile, following yesterday’s S&P downgrade of the EFSF, all eyes are focused on bond auctions by the EFSF, along with Spain and Greece, slated for later today. At home, data just released has indicated that consumer price inflation eased for December, while the retail price index climbed.

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Euro rallies on Eastern Promise

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