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EUR/USD steps back from close to 1.0900

The further gains for the EUR/USD yesterday delivered its highest daily close since the end of March. The EUR/USD touched 1.0890 and closed in the US at 1.0884. Much earlier today it tried to extend upon that close and get above the 1.0900 handle. However, it ran into profit-taking ahead of that, peaking earlier at 1.0895. It is edging lower as this update is typed and that seems once again due to a modest recovery in the USD/JPY, off its earlier session lows. The overall trend for the EUR/USD remains positive though and it looks like there will be buyers on dips, if seen. The  technically positive close last night is a factor in that too. The EUR/USD is currently trading at 1.0877

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