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EUR/USD Rejects Pressure to Break Below Parity, Rallies 50 pips

EUR
  • A solid turnaround in the EUR/USD rate in recent trade - putting the pair well off the lows at parity and now at session highs having seemingly firmly resisted pressure to break below the 1.00 level.
  • No specific headline driver or piece of news to drive the currency higher here, but there's been a considerable spike in activity evident in futures volumes at the NY crossover - around 1,700 EUR futures changed hands inside 60 seconds - that's ~$211mln cash equivalent

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