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More hawkish talk out of the Fed, a major political loss for Angela Merkel, and chatter about...

More hawkish talk out of the Fed, a major political loss for Angela Merkel, and chatter about "burden-sharing" on Irish senior bank debt cause the euro to gap down about 50 pips at the open yesterday. It has recouped some of those losses, but remains -0.3% at $1.4142.
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