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EUR/USD on the rebound so far today
Yesterday evening the dollar continued to win back some lost ground and that saw the EUR/USD fall below the 1.13 handle and extend that fall after the European close. The Euro fell to 1.1264 and that allowed the dollar index (USDX) to once again lift back above the 100 handle and reach 100.27, but it is not up there anymore. The index is falling back towards 99.50 this morning and that has come as the GBP/USD rises above 1.3250 and the USD/JPY falls below 142.50. However, it is the EUR/USD that has dented the dollar index the most as that has rebounded back to 1.1350 this morning. The EUR/USD had closed in the US last night at 1.1282. The outlook for the EUR/USD remains unchanged here, but despite the rebound it has yet to break any fresh ground so far today. The push lower yesterday seemed mostly about what looked like a clear attempt to force out Euro longs. Well, as you can see today, that has not been successful. The EUR/USD is currently trading at 1.1346
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