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EUR/USD Reverses Course Off Highs

EUR
  • EUR/USD reversing course off the morning's high of 1.0930 and is now back to broadly flat - decent volumes across futures on the pull lower in spot, with 0914 and 1020 both seeing an uptick in activity.
  • Initial strength in the pair was driven by the rollover in US yields, however the pullback hasn't coincided with any notable move in the US10yy.
  • Prices have gravitated back toward the 1.09 handle and the most sizeable strike in the pair for today's NY cut: €1.1bln is set to roll off at that mark, with further interest of €949mln layered between 1.0870-85.
  • 1.0893 marks weak intraday support ahead of 1.0869 and more notable into 1.0845.

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