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The US dollar index was seen trading lower towards Wednesday’s close. These declines come following a day after the USD posted strong gains. The subdued trading comes as the economic calendar has been quiet for the most part this week. The FOMC meeting is due in a week’s time but the blackout period means that there isn’t much news to fall back upon.
Euro Gains as the Dollar Retreats
The euro currency has been posting some modest gains against the dollar on Wednesday. This comes ahead of today’s ECB meeting. It will be the last monetary policy meeting under the leadership of ECB President Mario Draghi. Economic data from the Eurozone was quiet.
Can the EURUSD Maintain the Rebound?
The currency pair rebounds following a day of declines. However, we expect that the upside is limited for the moment. EURUSD could post a lower high which will confirm the downside. The currency pair will likely test the lower su...
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