EUR/USD Rallies for Third Day on US Employment Expectations

The euro rallied today for the third straight day on the speculation the employment growth in the USA slowed, supporting the case for the Federal Reserve to perform additional monetary easing.

Analysts predict that the US non-farm payrolls will show today that the employment growth moderated to 97,000 in October, compared to 103,000 in the preceding month. Earlier, the euro slowed its rally and was attempting to go down as concerns about Greece returned with new strength. Greek Prime Minister George Papandreou will face a confidence vote today and the rescue plan for Greece may be threatened in case the country would be required to elect a new leader.

EUR/USD rallied from 1.3813 to 1.3843 as of 9:42 GMT today after falling to the low of 1.3786. EUR/JPY advanced from 107.80 to 108.01, following the drop to the intraday minimum of 107.53.

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