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US ISM service index slides to 48.8- EUR/USD vaults 1.0800
The June US ISM service sector index was expected to come in slightly weaker, at 52.5, from a reading in May at 53.8. It has just been released at 48.8. The prices paid component (last at 58.1) was 56.3 at and the New Orders index (last at 54.1) came in at just 47.3. The dollar has gotten hit back further on this news. The GBP/USD is above 1.2750 and the EUR/USD has now lifted above 1.0800. This data was not good news for the US currency and the last thing it needed to see this afternoon
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