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FOMC Minutes Spark Quick Dollar Sell-Off, EURUSD Spike To Session Highs

  • Link to full July FOMC minutes:
  • Fairly balanced comments, however, with some market participants potentially expecting a more hawkish set of minutes, the US dollar was sold immediately.
  • EURUSD popped aggressively from 1.1700 to the best levels of the day and topping out at 1.1742.
  • Likely stops going through as price action is slowly reversing with the single currency back to 1.1715.

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