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EUR/USD Inches to New Highs, Erasing Friday Losses

EUR
  • EUR/USD pressing to a fresh session high and thereby erasing the Friday bank CDS-inspired weakness in the single currency. Progress north of here initially opens 1.0847, the 61.8% retracement for the Thurs - Fri downleg ahead of 1.0930 - the Thursday high.
  • This morning, Danske Bank wrote that their near-term bias remains for a slight move higher in EUR/USD, but they look to sell rallies in the pair over a medium- to long-term basis.
  • US consumer confidence data the highlight for the Tuesday session, with advance trade balance in 15 minutes unlikely to move the needle.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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