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EUR Remains Under Pressure in Late Europe

EURO-DOLLAR
MNI (London)

Extends slippage to retest the last Thursday's (Oct8) low at $1.1733, with recovery efforts remaining shallow. Break here to expose the Oct7 low at $1.1725 ahead of expected support at $1.1700, with the Oct2 low of $1.1696 corresponding to the 61.8% retrace of the recent recovery move from $1.1612(Sep25) to the Oct9 high of $1.1831. EUR has been performing with an underlying heavy feel over the last couple of sessions, even with equities pushing higher, but with those easing off it has lifted the USD and applied further pressure on the single currency.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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