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Showing results for tags 'finance'.
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EURUSD: The pair looks to weaken further as it holds on to its downside pressure. On the upside, resistance comes in at 1.1600 level with a cut through here opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD faces further downside pressure
The Asian Financial Crisis is said to have started in Thailand, after the Thai Baht dropped in value after the Thai government's decision to remove its peg to the US Dollar. The contagion effect spread to other Asian countries (such as South Korea, Japan, and Indonesia), and required assistance from the IMF and World Bank before currency prices started to stabilize.