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Market Pro: 3 Reasons the Euro Remains Strong

On Friday, the euro shrugged off concerns about deepening European debt crisis following the collapse of Portugal's government earlier this week.

"It's pretty extraordinary," said Rebecca Patterson, managing director and global head of currencies and commodities at J.P. Morgan Private Bank. "You lose an entire government and the euro doesn't seem to care."

There are three reasons for the euro's resiliency, Patterson said.

First, the market expects the European Central Bank to raise interest rates when it meets on April 7, Patterson explained. The market is now pricing in 100 basis points of rate hikes over the next 12 months. Being as yields have risen more in Europe than they have in the U.S., Patterson said the euro is made "more attractive."

In addition, Patterson said oil prices are well supported. Being as oil producers now have more money, they are diversifying and buying euros.

Finally, there are continued flows into emerging markets. The Brazilian real , as well as the Mexican peso , for example, are strong. Patterson said central banks are intervening and diversifying with euros.

Patterson herself has stayed away from the euro. She doesn't anticipating getting into it any time soon either.

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5 MARKET MOVERS TO WATCH

Stocks gained Friday in another low-volume trading session as investors snapped up shares ahead of first quarter earnings and shrugged off a handful of mixed economic news and heightened tensions in the Middle East.

The "Fast Money" traders, though, were watching these five market movers:

Las Vegas Sands (LVS) popped 1.5%: UBS upgraded the casino operator's stock to ‘buy’. Its price target remains at $51 a share. The firm notes the recent pullback has created a buying opportunity. Veracruz founder Steve Cortes hasn't been a fan of LVS, but he said the technicals look good. If you have to buy a casino stock, he thinks this is your best bet.

Akamai Technologies (AKAM) popped 2.5%: Piper Jaffray upgraded this tech stock to ‘overweight’ from ‘neutral’ with a price target of $45. Valuation, as well as how customers intending to spend more are key catalysts for this stock, the firm said. After being punished, this stock is finally starting to react to the upside, said options trader Pete Najarian.

Netflix (NFLX) popped 1%: Investors will run into resistance at around $233 a share, Stuart Frankel's Steve Grasso said. Being as this stock isn't overbought yet, he thinks NFLX remains a buy.

Finish Line (FINL) popped 6%: Management noted February comp store sales were up 8 percent. In addition, it said sales and store traffic strength have continued from second-half of February into March. Trutina Financial's Patty Edwards thinks FINL is interesting at current levels.

Bristol-Meyers (BMY) popped 2%: The biotech firm got FDA approval for an melanoma drug. Najarian said the company was probably expecting a bigger pop from its stock on the news.

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Trader disclosure: On Mar. 25, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian Owns (AAPL). Pete Najarian Owns (TCK). Pete Najarian Owns (GE). Pete Najarian Owns (C). Pete Najarian Owns (AKAM). Pete Najarian Owns (BIG). Pete Najarian Owns (HPQ). Pete Najarian Owns (MS). Pete Pete Najarian Owns (HK). Pete Najarian Owns (KEY). Pete Najarian Owns (PFE). Pete Najarian Owns (TEVA). Pete Najarian Owns (UNP) Calls. Pete Najarian Owns (ADM) Calls. Pete Najarian Owns (BTU) Calls. Pete Najarian Owns (CNX) Calls. Pete Najarian Owns (CVS) Calls. Pete Najarian Owns (HUN) Calls. Pete Najarian Owns (ICO) Calls. Pete Najarian Owns (MYL) Calls. Pete Najarian Owns (RIMM) Calls. Pete Najarian Owns (WNR) Calls. Pete Najarian Owns (XLF) Calls. Pete Najarian Owns (BAC) Calls. Steve Grasso Owns (AMD), (ASTM), (BAC), (BAC), (C), (CSCO), (D), (JPM), (LIT), (LPX), (MHY), (MU), (NDAQ), (PFE) and (PRST). Steve Cortes Owns (TM), (GS), (CSX), (SDY), (EXC), (SO) and (RIMM). Steve Cortes Is Short (F). Steve Cortes Is Short (BAC). Steve Cortes Is Short (UNP). Steve Cortes Is Short (DBA). Steve Cortes Is Short Silver. Steve Cortes Is Short Wheat. Steve Cortes Is Short Soybeans. Steve Cortes Is Short Natural Gas. Steve Cortes Is Short Euro. Steve Cortes Is Short Yen.

Comcast Is The Parent Company Of CNBC
Comcast Is The Parent Company Of NBCUniversal
GE Owns 49% Of NBCUniversal
GE Owns 49% Of CNBC

PATTY EDWARDS
Edwards Owns (SPY) For Clients
Edwards Owns (QQQQ) For Clients
Edwards Owns (ORCL) For Clients
Edwards Owns (GLW) For Clients
Edwards Owns (QCOM) For Clients
Edwards Owns (AAPL) For Clients
Edwards Owns (GOOG) For Clients
Edwards Owns (XLB) For Clients
Edwards Owns (GLD) For Clients
Edwards Owns (SLV) For Clients
Edwards Owns (POT) For Clients
Edwards Owns (AKAM) For Clients

STEVE GRASSO
Stuart Frankel & Co. And Its Partners Own (CSCO)
Stuart Frankel & Co. And Its Partners Own (CUBA)
Stuart Frankel & Co. And Its Partners Own (GE)
Stuart Frankel & Co. And Its Partners Own (GERN)
Stuart Frankel & Co. And Its Partners Own (HPQ)
Stuart Frankel & Co. And Its Partners Own (HSPO)
Stuart Frankel & Co. And Its Partners Own (MSFT)
Stuart Frankel & Co. And Its Partners Own (NYX)
Stuart Frankel & Co. And Its Partners Own (PFE)
Stuart Frankel & Co. And Its Partners Own (PRST)
Stuart Frankel & Co. And Its Partners Own (SDS)
Stuart Frankel & Co. And Its Partners Own (UAL)
Stuart Frankel & Co. And Its Partners Own (XRX)
Stuart Frankel & Co. And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. And Its Partners Are Short (AAPL)

DAN NILES
Funds Managed By Dan Niles Own Accenture
Funds Managed By Dan Niles Own (ORCL)
Funds Managed By Dan Nilse Are Short (RIMM)

CNBC.com with wires.

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