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MUFG expects that the Euro to Dollar (EUR/USD) exchange rate will strengthen to 1.1050. According to MUFG; “A fourth consecutive monthly upside inflation surprise is required to inject fresh upward momentum into US rates and the USD in the near-term. Whereas in line or softer prints could see the USD give back more of the gains from the start of this year.” ...
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Euro was poised to mark a fourth-consecutive weekly rally ahead of the close on Friday with EUR/USD up more than 2% off the yearly lows. The advance takes the exchange rate into a major pivot zone with the monthly opening-range taking shape just below. Battle lines drawn on the Euro short-term technical charts heading into key US inflation data next week. ...
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