Euro, Aussie Slide as Rally Succumbs to Profit-Taking

The euro tested last week’s low against the dollar on Monday, while the growth-linked Aussie and kiwi slid on profit-taking as their rally sparked by stimulus moves made by the world’s central banks earlier this month ran out of steam.

Uncertainty over Spain and Greece also hampered the euro while the yen was helped by Japanese repatriation ahead of half-year book-closing at the end of this month, though wariness about Japan’s possible intervention kept its advance in check.

The euro fell 0.3 percent to $1.2931, within striking distance of Thursday’s trough of $1.29195, having fallen 1.8 percent from a four-month peak of $1.3173 three days earlier.

via CNBC

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