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EUR/USD edges back from 1.11 as dollar lifts
Earlier this morning the EUR/USD just managed to trade above 1.11 for the first time this week. The high seen was set at 1.1101 and it came as the USD/JPY set a new 2024 low at 140.37. To be honest, given that USD/JPY low, the EUR/USD could have done better, but at the time it was held back by corresponding EUR/JPY selling. Well, since then the USD/JPY has rebounded back towards and close to 141.00. That has pushed the EUR/USD back down (and the GBP/USD for that matter too). The EUR/USD is back into the middle of its day range now (1.1070-1.1101) and awaiting further developments and naturally also waiting to see where the USD/JPY will take it. Make no mistake, the USD/JPY is firmly in control of all the major pairing price action again this afternoon. The EUR/USD is currently trading at 1.1084
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