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Dollar lifts in Asian trading as Fed decision looms- check out the EUR/USD
Yesterday the dollar lost ground versus the Euro and later that saw the EUR/USD post a daily close back above its 200 day moving average, then at 1.0842. The EUR/USD closed in the US at 1.0845. That 200 day moving average is still falling ever so slightly and in place this morning at 1.0841. Well, despite rebounding last night, the Euro has fallen back again this morning, reaching a session low so far at 1.0816. The fall comes as the USD/JPY once again seems to find support underneath 147.20. The rebound in the dollar there has upended the EUR/USD and of course the latest US data seen yesterday was dollar positive anyway. As to whether that pushes the Fed into a more hawkish stance this evening is a different matter. Perhaps the fact that it might is one reason to explain the rebound in the US currency this morning. There will be plenty to add about that 7pm GMT Fed policy decision as the day unfolds. Meanwhile, the EUR/USD is currently trading at 1.0820
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