Euro turkey gets no Thanksgiving respite

MARKET NEWS

The euro’s 200 day moving average could hold the key to further falls in the currency, writes Matthew Clements, economist at Prebon Yamane in London

Euro/dollar remained below $0.88 for most of last week although volatility was limited because of the US Thanksgiving holidays. Falling to a four-month low of $0.8760, euro/dollar closed on November 13 below its 200-day moving average, on a downward trend, for two consecutive weeks -- the first time this has happened since early May. Back then, t

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