Breaking Forex News – Euro recovers after reports of cancellation of EU Summit are dismissed

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The euro extended losses against the dollar as rumours swept around that the European Union summit has been cancelled . News has just come in to confirm that the 27-EU country leader’s summit is still on but only the European finance ministers meeting which precedes the Summit has been cancelled.

The euro fell to session lows of 1.3853 but has bounced to 1.3886 by 1400GMT.