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Pair Extends Gains Through London Close

EUR
  • EUR/USD continues to creep higher into the London close, with the pair printing a new high at 1.0686, opening the next resistance at 1.0691 - last week's best levels.
  • Progress through here would open the 50-dma at 1.0728 and levels at which point the markets will have reversed the entriety of the late February pullback.
  • EUR continues to add to the late afternoon gains, with the initial catalyst being the somewhat hawkish tone from ECB's Holzmann (Sees 4 further 50bps rate hikes this year), with the bounce off the lows for the US 10y yield failing to slow the day's uptrend in the pair.

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