The September eurocurrency futures responded bullishly to the news of the yuan revaluation this morning but again failed to break past the 1/2 point of a box at 122.75. A one box drop here would be normal so I think the market will find support at the 1/2 point of the next lower box at 120.90.
The eurocurrency is in the midst of a move which will take it into the 125-126 zone before the bear market resumes.
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