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Single Currency Tips Into Positive Territory

EUR
  • EUR/USD inching back into positive territory at the NY crossover, with single currency gains also evident vs. CHF and GBP. Pair faces first resistance at the earlier overnight highs of 1.1229 ahead of Thursday's 1.1313. Worth recalling today marks month-end, with most sell-side models pointing toward USD demand into the fix.
  • Note ECB's Lagarde is due to speak later today (1400GMT/0900ET) after attending a Eurogroup meeting assessing the economic and financial impact of the Ukraine crisis on the Eurozone economy. She may appear alongside Irish finance minsiter Paschal Donohoe, who chairs the Eurogroup. Unclear if she'll make direct comments on monpol, and may opt to wait until March's forecasting round to comment specifically on inflation, policy impact etc.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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