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EUR/USD dipped back under $1.1700 on....>

EURO-DOLLAR: EUR/USD dipped back under $1.1700 on Tuesday, last ~$1.1690.
- Resistance is noted at the hourly recovery high from July 23 ($1.1728), with
support observed at the July 24 low ($1.1655).
- Focus falls on EU's Juncker visiting Washington to discuss trade matters with
U.S. President Trump on Wednesday. In a tweet Trump stated that "the European
Union is coming to Washington tomorrow to negotiate a deal on Trade. I have an
idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and
Subsidies! That would finally be called Free Market and Fair Trade! Hope they do
it, we are ready - but they won't!" Earlier on Tuesday EU trade commissioner
Malmstrom tweeted "Off to Washington... to discuss our trade relations and try
to de-escalate the situation. We should work together to address global steel
overcapacity, WTO reform etc."
- The ECB's decision, due Thursday, also remains front and centre.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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