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EUR/USD drops back ahead of the European stock market opening

Yesterday the EUR/USD almost managed to post a daily close above 1.0950, but in the event the very modest rebound stalled and it closed at 1.0948. Earlier today it did just nose above that 1.0950 level, peaking at 1.0955. However, in more recent trading it has just now fallen back to session lows, at 1.0932 set a moment ago. The driver for this appears to be a corresponding move lower in the EUR/GBP. I wished I could provide more insight on the current prevailing price action on this one, but it is pretty land-locked right now, but it might get a jolt from the US data releases this afternoon. If it does not, then it might have to wait for the Fed monetary policy decision next week. Perhaps it is worth noting; that quite often a surge in volatility follows a long period of inertia, but it does remain to be seen how much longer this current price action will persist before that might happen. Sometimes patience is a virtue in this game folks 

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