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EUR/USD hits fresh session lows underneath 1.0825

The EUR/USD has just this minute fallen to fresh session lows. Earlier the Euro rebounded from 1.0829, to above 1.0855, but as the US stock markets remain under pressure and US yields are close to session highs, that has undermined the EUR/USD again. To be honest with you, the prospect of an ECB rate cut next week, at the same time as US yields are rising does continue to favour the downside in the EUR/USD. That point was made here earlier and it is endorsed again right now. Perhaps the bigger surprise; is that the EUR/USD is not already falling below support at 1.0800, given the current backdrop. Perhaps it will, but that remains to be seen, as does the outcome of the US PCE report on Friday. The EUR/USD has just hit a session low at 1.0821 

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