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Dollar on the drift as EUR/USD eyes top of the range again

The dollar has been drifting lower for the past couple of hours. That has seen the GBP/USD rebound from an earlier low at 1.2607, close to session highs just now. Also close to session once again is the EUR/USD. As reported here earlier, the Euro topped out in Asia at 1.0963 and then dropped back to 1.0935. It is trying to make a more meaningful and forceful move above 1.0960, which is something that has evaded it for more than a week now. The number of technical models forecasting month-end dollar outflow has not diminished and so with that in place there are some operators that expect a test of the 1.10 handle before the month is out. We shall have to see on that, but of course it has to make a break above 1.0965 first. It  is a bit closer to that level just now, currently trading at 1.0955
 

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