Hefty demand was seen for the US dollar in yesterday's session through the fixing hours as expressed in yesterday's market review. EUR/USD erased its hard-earned gains and plummeted from 1.3019 to 1.2927 at the time of this writing. End of month FX flows tend to have a significant impact on the Forex market and they are closely monitored by Forex traders. Another reason for the early selling pressure in EUR/USD was reports that Spain is to extend its short-selling ban by three months, taking the air out of the old bulls.
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