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Thursday, May 20, 2010

By Ashraf Laidi

ECB Intervention is inevitable, Gold set to catch down with other commodities & Aussie to way down under

Since neither the 750 bln IMF/EU/ECB package nor Germanys announcement to ban naked shorts succeeded in alleviating selling in the euro, coordinated central bank intervention to support the single currency is inevitable. Such action will unlikely reverse the euro's slide, but may help resurrect a 2-way market in the currency and slow down the damage.

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