EUR/USD may be down, but it may not be out, suggests Trader. Points to the good reception for Greece's auction of 13-week T-bills Tuesday, suggesting investors are willing to give Greece and the euro the benefit of the doubt. Also, the bank's economic surprises index point to upside surprises for euro-zone data, but downside ones for US numbers. "The market seems too bearish on Europe's short term economic prospects compared to the US's," the bank says, suggesting PPI and housing starts data from the US later Wednesday could well bear this out.
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