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US Dollar Flirts with 1.1800 as Retail Sales Disappoint
The US dollar is trading in a tight range against its major counterparts with the euro stabilising just above 1.08 as of writing. Retail sales figures from the US were not overtly optimistic as a lower than expected print at +1.2% was registered. Meanwhile, EU jobless numbers disappointed, opening a move to the downside that so far has been contained. A move lower in the EURUSD pair was contained by bids that emerged below 1.0790. After the release of the US data and the retail sales disappointment, the rally extended to 1.0835 as of writing. The emergence of sellers around that level has so far contained the rally, ... (full story)