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Dollar extends gains as EUR/USD falls below 1.0900

Following the release of the higher than forecast US PPI data the dollar is still pressing higher and that spurious move lower (reported on here) in the USD/JPY has now been reversed and more. That has now taken out all its most recent highs for the past 5 trading days and risen now above 148.25. That in turn has forced the GBP/USD and EUR/USD lower and now the EUR/USD is extending its losses on the day below the 1.09 handle. This is all coming about as those US yields continue to press higher. The 10 year yield is now 0.10% higher and that is quite a move by recent standards. This has forced the dollar back up and sent the EUR/USD to a session low right now at 1.0884. The nearest potential support level is now at 1.0855, where the 21 day moving average is currently in fact both the 50 and 100 day moving averages are clustered around there too, at 1.0854 and 1.0856 respectively. The 200 day lurks not far below all those, at 1.0838. Hence levels around 1.0850 are surely of technical importance from here on today. The EUR/USD is right now trading at 1.0884

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