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Some European crosses moving but no obvious trigger

FOREX

We have seen some (small but noteworthy) moves in European currencies this morning.

  • EURGBP has broken through yesterday's low of 0.8380 and is sitting around the 0.8371 1.0% 10-dma envelope level our technical analyst noted. Below here is the low of February 26,202 at 0.8356 ahead of the 0.8282/77 low of February 2020/December 2019 which out technical analyst notes if the key bear trigger. Seems to be helped by SONIA futures slightly underperforming Euribor futures this morning.
  • EURCHF is also at its lowest level this morning since May 2020 at 1.03384 at typing.
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