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Fresh USD Weakness As Europe Files In

USD

Fresh USD weakness as European traders file in sees EUR/USD & GBP/USD breach their Wednesday highs, which were printed in the wake of the FOMC meeting. Asia-Pac participants focused on the dovish sections of the Fed’s post-meeting statement and Chair Powell’s press conference, with 2-Year Tsy yields and year-end FOMC-dated OIS also through their respective post-FOMC lows, applying further pressure to the USD.

  • EUR/USD has shown as high as $1.0930, with bulls now looking to key resistance in the form of the Feb 2 high ($1.1033).
  • GBP/USD has registered a high of $1.2337 in recent trade, meaning bullish focus now moves to the Feb 2 high ($1.2401), which protects key medium-term resistance at the Jan 23 high ($1.2448).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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