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DAX pressing higher in early trading as EUR/USD skirts technical level

The FTSE 100 is making headway after the opening and rising back above 7,700. The DAX is pressing a little higher too and both are being helped higher by the dollar weakening versus the European currencies. The EUR/USD has just now lifted above its 21 day moving average, at 1.0945. It had found resistance there for a while, but it has just edged above the level. At the same time the overall risk dynamic is delivering some immediate gains in the EUR/JPY and the GBP/JPY. This is as the USD/JPY comes off an earlier dip to below 143.25. That is now moving in tandem with the EUR/USD to the upside. So, this is all helping to drive stocks a little higher and the DAX is currently close to session highs, trading just now at around 16,580 
 

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