On Tuesday, EUR/USD lost ground. The move was not really in lockstep with the price developments on other markets and the risk-on/risk-off paradigm, as equities had a strong run. A mediocre EMU PMI report confirmed market hopes that the ECB will cut interest rates and may even take additional measures to support the economy. EUR/USD dropped below the 1.30 mark and closed at 1.2998, down from 1.3067 close on Monday.
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