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EUR/USD holding above 1.0850 so far today

Yesterday the EUR/USD managed to rebound modestly, from a low at 1.0821, to back above 1.0850 by the time of the US close. The EUR/USD closed last night at 1.0859. The rebound, modest as it was, came as US yields fell back yesterday afternoon. The reason for that relapse is not exactly clear, but perhaps it was just flow heading back to bonds, at very attractive levels by recent standards. The EUR/USD has held that rebound in Asia today and in truth it has been a very quiet session thus far, with very little on the economic release calendar anywhere within the G10 spectrum today. The range seen so far today has therefore been tight and covered by 1.0854 to 1.0864. It is also sandwiched in between the 200 day moving average (now at 1.0833) and the 100 day moving average (now at 1.0874). The EUR/USD is currently trading at 1.0858

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