Forex: EUR/USD continues its correction lower

FXstreet.com (Barcelona) - The euro is extending its bearish correction, after hitting fresh highs above the 1.2800 mark, as Chief B.Bernanke is giving his speech.

Today’s advance in the single currency was bolstered mainly by rumours, ignoring preliminary EMU GDP data in the third quarter, confirming a double dip recession in the 17-nation bloc.
Stock markets in the euro zone closed mainly in red with the DAX (0.82%) leading the losses followed by the FTSE100 (077%) and then the CAC40 (52%). Curiously (or ridiculously), the only exception was Spain, where the IBEX advanced 0.29%.

At the moment, EUR/USD is up 0.29% at 1.2772

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