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EUR/USD extends breakout gains to above 1.09

Yesterday it was all about the dollar and the huge surprise from the Fed and that helped the EUR/USD to make a clean break above its 200 day moving average (then at 1.0826). That move was mostly covered in updates here yesterday evening and the Euro has extended that rise versus the US currency today. The EUR/USD closed last night at 1.0874. It has risen to a high so far today at 1.0915. Perhaps the only reason it has not risen further is due to the proximity of the ECB policy meeting outcome later today (at 1.15pm GMT). There is a risk that the ECB will signal the same kind of exit as the Fed, although not many expect such an aggressive shift. I think perhaps were it not for the ECB meeting today, the EUR/USD might already have reclaimed the 1.10 handle. There will be more to add on all this as the morning unfolds. The EUR/USD is currently trading at 1.0901
 

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