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USD in Demand
The US dollar has kicked off the week on a firm footing with the index rallying up to 97.21 last, just shy of the 97.26 level. Better data last week helped underpin USD, despite a weaker than expected NFP reading.
US CPI is on watch this week, which could see further buying for USD. Away from data, the main market focus will be on the signing of the phase one trade deal between the US and China, due on Thursday.
Euro Under Pressure
EURUSD has been weaker today in light of the rally in USD which has seen the pair falling back down to 1.1117 last. Looking ahead this week, the main data focus will be the release of the ECB December meeting minutes.
Traders will be keen to learn of the full discussions which took please at Lagarde’s first meeting as the new head of the ECB, particularly with a view to how much support there still is for further easing.
GBP Heading Lower
GBPUSD has been lower again today. The rally in USD sees the pair falling back below the 1.3014 level to t...
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