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EUR has come under some light...........>

EURO-DOLLAR
EURO-DOLLAR: EUR has come under some light pressure after the White House
announced that President Trump will make an announcement re: EU trade matters
later today (13:45 Eastern Time).
- Trump could be lining up hard-line rhetoric/tariffs against the EU in an
effort to squeeze the Fed into conducting deeper rate cuts. Many suggested that
the latest round of outlined tariffs re: China were designed to do just that
after Fed Chair Powell pointed to international risks on more than one occasion
during his press conferenced on Wednesday.
- EUR/USD last trade 10 pips or so lower at $1.1077, after hitting a session low
of $1.1070 on the back of the announcement.
- Bears initially target the YtD low at $1.1027.
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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