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EUR/USD still mulling its options again inside a tight range

The EUR/USD is not making much of a move in either direction so far today. It is still caught in the tractor beams of whatever the cross flow has to chuck at it, be that from the EUR/GBP, EUR/JPY or something else a little more exotic. The US dollar has remained a headwind, despite suffering the fallout from the Fed boss the other week. The attempts by numerous other Fed officials, to walk back on the dovish surprise from Powell has probably stopped the EUR/USD from taking out resistance above 1.10, but the ECB is not exactly in a position to offer much in the way of alternative support either. Consequently the EUR/USD has languished around the current levels ever since. The markets more generally are gearing down for Christmas, but we should forget they rarely ever sleep and a surprise move over the next two weeks is not to be ruled out, especially over the New Year window. That said it is a bit boring on the EUR/USD so far today. If you want me to dress it up as something different, then forget it, because I will not. The range seen so far today has been covered by 1.0937 to 1.0956. It is currently trading at 1.0949
 

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