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EUR/USD climbed back toward its.........>

MNI (London)
EURO-DOLLAR: EUR/USD climbed back toward its Tuesday high of $1.0888, touched
$1.0886, in reaction to the FOMC announcement of unchanged rates, including
IOER, with commitment to do whatever it takes to counter economic effects of
COVID-19. Buoyancy remained into the close, the rate finishing the day around
$1.0875. Rate touched a high of $1.0879 into a returning Tokyo market before it
eased to $1.0852, the move seen influenced by the early Japan demand for USD/JPY
into the Tokyo fix (last fix of the month and Goto-bi day). As USD/JPY faded
gains so EUR/USD recovered to $1.0872 and settled into recognisable range
between $1.0855-70 into Europe. Germany Retail Sales at 0600GMT, Germany
employment 0755GMT and EZ flash Inflation at 0900GMT provide curtain raisers to
the ECB MonPol announcement.
- MNI ECB preview:
- US Jobless Claims and PCE also of interest. 
- Month-end flows, prelim models suggest USD sales to be seen at the fixes. 
- Support $1.0850/40, $1.0810/00. Resistance $1.0885/90, $1.0911.    
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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