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Will the dollar catch a bid into the final fix of the month?- EUR/USD still rangebound for now

At 3pm GMT we will see what plays out in the final 4pm (BST) London FX fix of month. Quite often this important fix can throw up some decent moves on the final day of any trading month. That does always depend on what fixing orders are left for that event, so it is never a given we will get some price action. Overall the dollar is still on the front foot, with those US yields looking to press higher again. The bond market is a key driver for the dollar, especially for the USD/JPY, as the short Yen carry trade has been the overriding theme of 2024 so far across the FX markets. Meantime, the EUR/USD is still annoying rangebound inside 1.0690 and 1.0740 in the short term. It really needs to break one way, or the other outside of 1.06 or 1.09, but in truth that is extremely unlikely to happen this side of Fed decision tomorrow night anyway. Even after that it is far from clear. Fundamentals right now favour the downside on the Euro, but it simply is not happening yet. The latest US consumer index has just been released and it was markedly lower, at just 97, down from the previous reading at 104.70. It will be interesting to see if the dollar can ride out that really poor number into the 4pm Fix 
 

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