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EUR/USD momentum stalled by Yen relapse

Yesterday the EUR/USD reached its highest level since July the 27, when it traded at 1.1139. However, it was not able to capitalise on the slide to 140.26 in the USD/JPY and that was all due to  a corresponding fall in the EUR/JPY at the same time. So, when the USD/JPY rebounded, there was no place left to go for the EUR/USD, notwithstanding a rebound in the EUR/JPY at the same time. Consequently, the EUR/USD dropped back to a session low at 1.1055. It later closed in the US at 1.1061. An earlier rebound today to 1.1084 gave way to a session low, matching the close last night, at 1.1061. It is off that low now , but still subject to further price action in the USD/JPY and the EUR/JPY it seems. The real question now, as the final 4pm London fix of the year draws closer; has the Dollar taken all this hits for that year end that it was touted to do? That is entirely possible I think, but I am keeping an open mind and a close eye on the price action from here on. The EUR/USD is currently trading at 1.1072
 

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