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Dollar on the rebound now as EUR/USD stalls short of 1.1130
The USD/JPY has just jumped higher again and this time the move higher has extended further above the 146 handle. That has added some downside pressure on the EUR/USD and the GBP/USD. So, both are now falling back to fresh session lows, approaching 1.30 and 1.11 respectively. The move higher in the dollar may have come following news that the talks between the US and Israel have seemingly reached a stumbling block. Now far from denting the stock markets it has actually seen European stocks rise. Quite why that is cannot easily be explained here, but that might even be connected to this news. So, there is no risk-off element at work here right now and that is why the Yen has not gained ground. The EUR/USD earlier tried to push above 1.1130 and that move has now given way to a slight back, towards 1.1110. It is currently trading at 1.1113
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