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USDCHF Struggles as Sell-Off Continues
The US dollar remains under pressure following the virtual Jackson Hole conference where the Fed announced tweaks to its monetary policy. With target inflation at 2% on average, markets expect the ultra-accommodative stance to stay for an extended period of time.
This week’s non-farm payrolls may lift an over-sold greenback should the data point to a recovery in the job market. However, short-term volatility could reveal those who are waiting to sell the rebound.
The pair is struggling to hold above the key support of 0.9000. The sentiment is likely to stay bearish as long as the price is capped by 0.9200.
EURGBP Drops as Brexit Takes a Back Seat
The wind seems to be turning in favor of the British pound as the euro struggles to push higher. Brexit has so far lost its ability to drive volatility as traders shrugged off the lack of progress in recent negotiations. Despite the risk of a no-deal exit in four months, policymakers and investors seem...
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