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27 Feb 2013
Forex Flash: Good levels to re-enter longs on EUR/USD and EUR/JPY - NAB
NAB strategists see the drop in EUR/USD and EUR/JPY as offering good levels to re-instate long positions, "content that we are as yet a long way from needing to take a ‘sky is falling’ interpretation of the indecisive Italian election result" NAB notes.
"Fresh elections are far from a given, they argue, and it is quite possible that Mr Berlusconi and Mr Grillo, following their strong electoral showings, can achieve their aims (and which may include Mr Berlusconi wanting immunity from prosecution) without having to bring the Italian political system back to its knees" the bank adds.
"Fresh elections are far from a given, they argue, and it is quite possible that Mr Berlusconi and Mr Grillo, following their strong electoral showings, can achieve their aims (and which may include Mr Berlusconi wanting immunity from prosecution) without having to bring the Italian political system back to its knees" the bank adds.