Positive moves in European equities, such as the bullish flag and double-bottom confirmation in the French CAC, along with the bullish break in Italian 10y Government Bonds toward the 2012 yield lows near 4.68%, have prompted a more optimistic outlook for the EUR. EUR/USD has broken above recent range highs and EUR/GBP has rallied through its 200-day average to confirm the upside potential as the bullish EUR trends of the past three months look set to extend against major currencies.
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Barclays Capital