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The US dollar index was seen posting solid gains on Wednesday. The recovery comes after the index was trading rather muted in the previous sessions. Economic data on the day saw the US producer prices index rising more than expected. Headline PPI rose 0.1% on the month while core PPI grew 0.3%.
Euro Retreats Ahead of ECB Meeting
The euro currency extended declines on Wednesday ahead of the ECB monetary policy meeting. The initial euphoria of a possible QE announcement faded as reflected in the bond markets. Yields on the German bonds rose after hitting record lows on Wednesday. The expectations are for the ECB to announce a cut to the key deposit rate but the size of the QE program remains questionable.
EURUSD Flirts Near Yearly Lows
The currency pair’s declines see a possible move back to the previous lows. The euro currency is trading close to September 3 lows of 1.0925. This comes following a hidd...
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