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EUR/USD slips to a new 2024 low at 1.0594
Since the European session got underway, the EUR/USD has been slipping lower and just now it fell to a new 2024 low, just breaking the lows seen yesterday, at 1.0595. The move lower comes as the USD/JPY extends a bit further above 155 and the dollar generally continues to feed off higher yields and potential further stock market rotation. The path of the Euro to set yet more lows on the year looks open, but at the same time we do have sizeable option interest and expiries in place later today around that 1.06 handle. Also, do not forget the important US CPI data due later, at 1.30pm GMT could shape how the Euro trades into the close tonight. Perhaps for that reason it might not push too far in either direction ahead of that data release. However, there is no immediate love lost here, if it falls further. The new 2024 low seen a moment ago was set at 1.0594. It is currently trading at 1.0600
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