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EUR/USD takes out 1.08 as the USD Index (USD) pushes closer to 104

The relapse in the dollar, that saw the GBP/USD and EUR/USD rebound from session lows earlier has now given way to a recovery in the US currency. That is despite yields being lower and stocks generally not in a risk averse mode. So, the GBP/USD has now dropped to fresh session lows underneath 1.26 and the EUR/USD has made a bit more of a decisive break below the 1.08 handle. Give or take a pip or two, earlier this had been holding resolutely above 1.08, but not any longer and the move higher in the dollar looks like it has now brushed aside that weaker than expected JOLTS data. The EUR/USD has just hit a session low at 1.0791
 

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