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EUR/USD still waiting on US CPI report

As noted here yesterday afternoon, the dollar was the subject of some decent sized buying interest for the 4pm London Fix. That pushed the EUR/USD down close to the 1.09 handle. In the event that level held firm, with the low set around 1.0910. The Euro then lifted into the US close, where it later ended the session at 1.0931. A dip to 1.0923 earlier today has been followed by a modest rebound, to 1.0955 so far. To repeat what I said yesterday; that I do not expect the range to  move outside of 1.09-1.10 ahead of the US CPI report and you can see right now we are back in the middle of that this morning. The lack of direction right now, may not count for much come 1.30pm GMT tomorrow, when that CPI data hits the screens. Meantime, the song remains the same for the time being, in the absence of any major news to drive it one way or the other. The EUR/USD is currently trading at 1.0948
 

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