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Downside in the pair extends, with......>

EURO-DOLLAR
EURO-DOLLAR: Downside in the pair extends, with EUR/USD bottoming out at $1.1037
so far and EUR/GBP nearing unchanged on the session. The moves aren't headline
driven at present, with the general risk-off tone weighing on sentiment more
generally. Peripheral European yield spreads are generally wider vs. Germany
(excepting Spain and Portugal on election news) which is also pressuring the
single currency. Any fall through $1.1037 opens the Aug1 low at $1.1027 and the
down trendline from Nov 2017 at $1.0942.

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