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Hawks Have The Upper Hand


Pushing Lower In Early Trade


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Bearish Despite Recent Gains

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ROMANIA: Eur/Ron has seen limited react after the Romanian central bank hiked
its benchmark rate by 25bps to 2.5%. This was the third hike this year to help
pause the sharp jump in inflation with analysts predicting more hikes are to
come. Focus turns to Governor Isarescu's press conference for further guidance
(1200GMT). Eur/Ron last trades Ron4.6558 and currently flirts with the 100-dma
(Ron4.6549). The 200-dma is expected to provide key support at Ron4.6291.

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