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US Dollar Lacking Momentum
The US dollar has had a slow start to the day on Wednesday as the drift lower from recent highs continues. The USD index trades 98.62 last. It’s been a slow week for data, though key retail sales and inflation data are due tomorrow and Friday. Looking ahead to today, comments from Fed’s Powell will be the main domestic focus.
EUR Outlook Still Bearish
EURUSD is posting a minor recovery today, benefiting from the drift lower in USD. However, the outlook remains tilted towards the downside for the EUR. The Irish election results this week have added further downside pressure for EUR. The currency was already under strain over recent weeks as a result of the coronavirus outbreak and concerns over EU/UK trade talks. EURUSD trades 1.0917 last.
GBP Boosted By BOE Comments
GBPUSD has been higher again today, extending the rally seen across the week so far. Recent data upside has helped ...
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