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EUR/USD lifting towards 1.11 again
In the previous update the further fall in the dollar was mentioned. Well, the USD/JPY is now approaching the 144 handle and that has allowed the EUR/USD to press back above the earlier session high at 1.1089. In the interim the Euro did fall back to test the 1.10 handle. To be honest that move was a little surprising, but that is the impact volatility has on the markets. The high seen last Friday was set at 1.1144 and since then it has fallen back to 1.0882 very early on Monday. The slightly longer term risk of the EUR/USD eventually taking out the 2024 high, at 1.1214 remains live and just as live as it was last week. The dollar does not have many friends right now and until it does the downside risks will remain in place. The EUR/USD is right now on fresh session highs, currently trading at 1.1095
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