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Greenback Extending Losses into London Close

DOLLAR
The dollar comes under further selling pressure headed into the London
and WMR fix, with most major pairs hitting fresh session highs.
  • Real yields remain a key driver of both currencies and commodities,
    helping spot gold reach alltime intraday levels today at $1945.26.
  • Given the oversized weighting of EUR/USD in the USD index, EUR/USD remains
    the pair to watch, having risen to 2-year highs today of $1.1778.
  • Focus turns to the unveiling of the Republican COVID-19 bill due after the
    close at 1630ET/2130BST, although the plans are seen as a
    marker for the beginning of negotiations rather than a bill expected to
    clear the floor.
  • MNI Tech sees the next key resistance for EUR/USD sits at $1.1781, the
    2.000 projection of the late April rally.

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