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It’s True! It’s True!
The fixing rumors look to have been spot-on today as we make fresh dollar highs right at 16:00 GMT. EUR/USD bottomed at 1.2957 at 15:59. Good news for the banks if they were properly positioned leading up to the fix as they get to fix the rate very close to the lows of the day. EUR/USD rebounding now that the fix has passed.
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