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EUR/USD Fully Reverses Post-PMI Weakness

EUR
  • The gradual grind higher for EUR/USD into the WMR fix has been (relatively) light on volume - move marks a full reversal of the post-PMI strength in the USD, and coincides with the weakness across stock futures (which has now broadly stabilised).
  • Progress through yesterday's 1.0705 opens the 50-dma of 1.0730.

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