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EUR/USD rebounds to session high after German PMI beats the street

Following on from the previous update, noting the disappointing French PMI data, the equivalent numbers from Germany have just been released. The German PMI data has contrasted markedly from the French numbers and so the EUR/USD has reversed its slight dip below 1.09 and more. The DAX has lifted on this news too and perhaps this better than forecast German PMI data will deliver another test of the 16k handle? We will have to see how that unfolds. So, the EUR/USD has now recounted to a fresh session high at 1.0930 on back of this German data and almost certainty wrong-footed a few short term players that sold it after the French data hit the screens. The EUR/USD is just now at 1.0924
 

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