A whipsaw in the euro was the main event during the European AM session. EUR-USD U-turned lower from a 17-day high on Greece news that it took a "hammering" at the Eurogroup meeting in Riga, which postponed any decision on Greece until the May meeting. Markets had been wrong to believe in the optimism that Greek officials expressed yesterday. EUR-USD tumbled to the 1.0820 area after earlier touching a high of 1.0900 following an above forecast Germna Ifo data.
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