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Posted: Jun 13, 2012 9:12:36 am

That capped the euro, which traded at $1.2495, off Tuesday's low of $1.24428. "There is nothing substantial in the recovery in sentiment, and it appears only to be supported by hopes Europeans will take more measures to ensure the Spanish aid will work while seeking to Red Sole Shoes buy time for Greece," said Yuji Saito, director of foreign exchange at Credit Agricole Bank in Tokyo. "There might also be some hopes the G20 will put pressure on Europe. Given so much uncertainty, players are quick to take profits whenever there is a rebound," he said. Despite a huge amount of positions betting on the euro's further Red Bottom Shoes decline, the currency's downside has been limited by options lined up around $1.25 as well as repatriation ahead of the half-year end in June by European financial institutions and companies, Saito said.
Speaking ahead of a June 18-19 summit of Group of 20 leaders in Mexico, Mexican President Felipe Calderon said on Tuesday European powers must quickly finalize plans to Red Bottom Heels support Spanish banks, and said he expected important progress to be made in resolving the 2-1/2 year-long crisis. Europeans, on the other hand, did little to soothe investor jitters, with Austria's finance minister saying Italy may need a financial rescue because of Christian Louboutins Outlet its high borrowing costs, while the Dutch finance minister said the euro zone was "still far from stable".
The European Central Bank said it stood ready to act should the situation in the euro zone deteriorate further. U.S. crude eased 0.3 percent to $83.09 a barrel, after hitting a 2012 low of $81.07 in intraday trading, its lowest since October 6. Brent crude was off 0.1 percent at $97.08 a barrel, after settling at $97.14, the lowest settlement Christian Louboutins Shoes since January 2011. The cost of insuring against corporate and sovereign defaults in Asia eased slightly on Wednesday, with the spread on the iTraxx Asia ex-Japan investment-grade index narrowing by 3 basis points.

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