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US ISM index misses on all counts- EUR/USD hits fresh session highs
The US January service sector ISM index has just been released. As noted here earlier a few times, the markets were anticipating an increase in the headline number. Well, that is not what showed up. The index fell to 52.8 from 54.1. The prices paid component has has also fallen back and so have new orders and employment. So, all around a pretty crummy set of data. The dollar was already falling back leading into this data and it has fallen back further now. The USD/JPY has hit new session lows underneath 152.50. The EUR/USD spiked to a new high on the day above 1.0440 on seeing this news. It is currently trading at 1.0435
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