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The US dollar has been weaker over the European morning on Tuesday, extending the week’s losses as the USD index continues to correct lower from the recent 99.82 highs.
Equities prices have posted a small rebound so far today, taking away some of the demand for USD. The Richmond manufacturing index will be the key release to watch over today’s US session.
EUR Higher on Better German Data
EURUSD is fighting to continue its recovery today, benefiting from the weakness in USD. For now, the heavy selling pressure in EUR has subsided. However, the outlook remains bearish in light of the ongoing coronavirus risks.
German Ifo business climate data came in better than expected yesterday which is helping provide some support in the short term. EURUSD trades 1.0852 last.
GBP Higher Following BOE Comments
GBPUSD is trading in the green today also with price fighting to hold above the 1.2869 support at 1.2987 last. Yesterday, BOE’s Haldane offered some positivity when he said that a la...
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