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Euro To US Dollar Rate Tipped To Retreat To 1.05 Say Rabobank
The Euro to Dollar exchange rate again challenged the key 1.1000 level on Thursday, but unable to break higher and consolidated just below this level. Markets are pricing in a 99% chance of a Fed rate cut in May and an 80% chance that there will be at least two cuts by then. According to Scotiabank; “A solid bid for the EUR in late morning European trade puts a positive spin on the intraday chart and suggests spot may be poised to take another run at major resistance in the 1.1015 area shortly.” It added; “Trend oscillators are aligned bullishly for the EUR on short-, medium– and long-term studies, suggesting ... (full story)
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