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EUR/USD takes out 1.0900

Well, the upside pressure was always there on the dollar earlier this morning and now it has delivered a break above 146.41 in the USD/JPY. The dollar has just now set a new 2024 high above this level. That in turn has added more downside pressure on the GBP/USD and the EUR/USD. The EUR/USD has now taken out its 50 day moving average and the 1.09 handle after that too. The further rise in the dollar versus the Yen, Euro and Pound has now forced the USD index (USDX) above that 103 handle too. The EUR/USD has just traded to 1.0895. It is currently trading at 1.0899

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