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EUR/USD finally makes it above 1.09

Well, its taken the best part of a week to do something that arguably it should have managed to achieve last week and that is for the EUR/USD to lift above the 1.09 handle. The move comes amid a wider dollar malaise that has seen the USD/JPY once again drop back towards 149.25 and the GBP/USD extend close to 1.2750. The move lower in the US dollar also comes amid a rather tepid and inconclusive Q+A session between the Fed Boss and US politicians on Capital Hill. This is the first time the EUR/USD has been above 1.09 since January 25. So, whilst the EUR/USD has gained, I am not sure it has that much more in the tank ahead of the ECB policy decision tomorrow. It does rather depend on what further comments emerge from the Fed boss this afternoon. The high seen so far has been set at 1.0909. It is just now trading at 1.0902

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