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It’s been a quiet start to the week for the US dollar. The USD index has been hovering around the 97.80 level this morning, still sitting at the bottom of last week’s declines for now. US CPI last week surprised to the upside, which has further weighed on US rate cut expectations, keeping USD risks tilted to the upside. This week, traders will receive the minutes from the October FOMC meeting which is expected to boost USD further.
EURUSD is in the green so far today as the USD languishes on the back of weakness into the end of last week. The ECB meeting minutes will be the main focus this week, along with a raft of Eurozone PMI data sets. PMI data sets have been trending lower over recent months so any further weakness here will likely bring EUR lower. EURUSD trades 1.1059 last.
GBPUSD has been higher so far today as traders continue to display optimism ahead of the U...
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