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Dollar Holding Below Resistance
The US dollar has been fairly stagnant over the last 24 hours. The lack of any key US data this week has created an absence of directional drivers which has seen the USD index remain in consolidation mode just below the recent 97.42 resistance level.
Some weakness in equities over the week as a result of concerns over the outbreak of the coronavirus has helped keep USD underpinned at recent levels.
Euro Lower Ahead of ECB
EURUSD has been a little weaker today. The residual strength in USD over the week has weighed on EUR. The ECB meets today and while no change in policy is expected, traders will be keen to hear the details of the bank’s strategy review. Special attention will be paid to the details around the inflation target. EURUSD trades 1.1089 last.
GBP Pauses At Highs
GBPUSD has been a little softer today, pausing just below the recent 1.3152 highs. GBP has been much s...
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