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News sources indicate that the United States and China are planning on a delay of tariff hikes due to kick in on December 15th.
The Washington administration is expected to add 15% tariffs on over $165 billion worth of goods imported from China.
However, with both parties locked in the negotiations, there is scope for a delay of the tariff hikes. Investors remain cautious about the news and are preparing for the Fed meeting due later today.
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Euro Trades Subdued Ahead of Fed Meeting
The euro has traded rather flat ahead of the FOMC meeting scheduled for today. There were no major new releases from the eurozone on Tuesday. Data from the US was also sparse on the day.
EURUSD Breaks Past Resistance Level
The euro broke past the resistance area of 1.1072. Price action is seen now trading close to the previously established resistance level of the 1.1100 region.
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