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Dovish ECB Speak Weighs Via Bond Spreads

EUR

EUR-negative bond spread moves in the wake of the dovish rhetoric from ECB’s Villeroy and Centeno weighs on the single currency, leaving spot EUR/USD around $1.0825.

  • Initial technical support comes in at Friday’s low ($1.0813).
  • A reminder that desks flagged recent buying interest ahead of $1.0800 last week, but a break of the round number would deepen the bearish trend and expose the 50.0% retracement of the Oct-Dec bull leg (1.0793), which protects the Dec 8 low ($1.0724).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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