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EURGBP Rises Over Brexit Impasse
The euro was put back on track thanks to the 500 billion euro recovery fund recently agreed between France and Germany. The much-awaited stimulus package is likely to boost investor sentiment for the time being as the single currency recoups its losses.
In the meantime, Brexit negotiations are facing roadblocks as Britain struggles to keep its key to the EU single market.
The pound sterling would be shunned by the market as long as the bloc is reluctant to grant London a free pass. The euro has broken above April’s consolidation range. 0.9200 is the target in sight if bulls succeed in sustaining the momentum.
USDCAD Supported by Commodity Price Falls
The Canadian dollar may struggle to check its neighbor’s advance as risk-on sentiment recedes. Oil prices have started to turn south after Beijing scrapped its growth target for 2020, a sign of heightened uncertainty for th...
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