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ForexLive US wrap: Steady Feddy and European woes take EUR to 1.30

|Includes: FXB, CurrencyShares Euro Trust ETF (FXE), UDN, UUP
  • US retail sales less robust than expected, up 0.2% in November
  • Legality of EU fiscal deal under legal scrutiny
  • BOC’s Carney: Not under any illusions that recent EU measures are sufficient
  • Bundesbank: Will fund IMF contributions if other countries do
  • Late morning rumors of Bernanke tipping QE and of Iran closing the Straits of Hormuz for military exercises prompted quick EUR/USD pip to 1.3210 before plunging
  • Merkel rejects further calls for ESM lending cap to be raised above EUR 500 bln
  • Heavy long liquidation from money managers, corporates as 1.3145 lows give way
  • Options-related sales add to further slide
  • IMF: Greek structural reforms have not gone far enough; relying too much on tax hikes
  • Fed modestly upgrades US economic outlook in FOMC statement; says economy has expanded moderately not withstanding some apparent growth slowing in global growth; no mention of QE at all
  • S&P 500 loses gains after FOMC, falls 0.9% to 1226; Milan down 0.6%
  • US 10-year note yield falls 0.5% to 1.97% after stellar 10-year note auction
  • WTI rallies $2.20 to $99.96 on Iran fears; gold slides $35 to 1632 as Fed punts on QE