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EUR/USD under pressure again as EUR/JPY falls back on mounting risk aversion
Further to an update here this morning, noting the fall in the EUR/USD yesterday evening, taking out stops below 1.1125, the earlier modest rebound towards 1.1150 has now given way to fresh downside. The Euro has fallen below that 1.1125 level again just now and it is could threaten the lows seen yesterday evening. In fact the price action is actually quite fluid, by recent standards at any rate. The news of reported attacks on Israel from the Yemen is perhaps a driver for the dollar and the Yen to gain right now and that has seemingly impacted US and European stocks. The USD/JPY has fallen back below 144 handle, as the major Yen crosses slip. Hence, right now this all smacks of a degree of risk aversion.
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