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Dollar takes it on the chin- EUR/USD finally reclaims 1.0900

Yesterday an update here noted that it was surely the best chance of recent times for the EUR/USD to reclaim the 1.09 handle following what was disappointing US ISM data. Well, eventually that did play out, as the dollar came under further pressure towards the US close. The EUR/USD later closed that US session at 1.0904. Earlier today the Euro lifted to a fresh interim high, at 1.0916. Granted progress is slow on the topside and as previously stated; that is due to the likelihood of an ECB rate cut on Thursday. However, as also noted and in spite of this rise, this seems increasingly priced in. Under such circumstances it remains uncertain, as to whether the 1.10 handle may be a bridge too far right now. The range seen today has been covered that high and an earlier low at 1.0901. The EUR/USD is currently trading at 1.0908
 

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