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FOMC Minutes on Watch
The US dollar continues to hold just below the week’s highs, with the index trading at 99.33 last, as price is continuing to grind back towards the 100 level. The FOMC meeting minutes due later today will be the main USD focus though not much is expected from the minutes. There are some downside risks if the Fed appears highly concerned over the coronavirus, though given that the impact on the US since the meeting has been very limited, these comments might lose relevance.
Euro Still Low
EURUSD continues to trade at lows today with price edging lower, in line with the rally in USD. The continued slide has seen price breaking down below the key support of 1.0986 to trade 1.0801 last as price pushes further into 2017 levels. The ECB meeting minutes due tomorrow will be the main focus with the potential for further downside if the meetings show any dovishness among ECB members.
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