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EUR/USD slips below 1.04 this morning
The push higher in the EUR/USD above 1.0440 yesterday afternoon came after the US ISM index disappointed the markets. However, that was the top of the shop for the Euro yesterday and it drifted lower into the US close, ending that session at 1.0403. It has fallen back a little further so far today, reaching a low at 1.0385 so far. One catalyst for the fall back seems to rest with the EUR/JPY and price discovery. So, the rebound in the USD/JPY right now it hampering any potential rebound in the EUR/USD. It is also possible; that the 300 pip rise from the lows seen on Monday has done enough now? It it likely the case as things strand. The Euro probably needs more news, one way or the other, if it is to cement that rebound further. It is trading right now at 1.0386
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