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EUR/USD still clinging to 1.15 as EUR/JPY rebounds
Yesterday evening we noted how the EUR/USD had fallen back throughout the session, but continued to hold its head above the 1.15 handle. Well, subsequent to that update it did trade at 1.1500, but not a pip lower. The Euro later closed in the US at 1.1509.
So far today it has continued to hold the 1.15 handle even as the USD/JPY rebounds further and the simple reason for that is all about a corresponding rebound in the EUR/JPY. That is the cross rate dynamic that has surely helped the EUR/USD hold its ground. The range seen so far today has been covered by 1.1502 and 1.1515. The EUR/USD is right now at 1.1507
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