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Forex: EUR/GBP retraces from highs, around 0.8743

The pair is cashing up part of the recent gains, retracing ground after today’s tops in the boundaries of 0.8770

The dovish tone from the BoE minutes plus a higher unemployment rate in the UK have intensified the bearish sentiment surrounding the sterling, dragging it to sub 1.5300 levels against the greenback. Although the euro lost the 1.3400 handle vs. the US dollar, its resilience to drop further is helping EUR/GPB to keep the area around 0.8750

At the moment, the pair is advancing 0.72% at 0.8743 facing the next hurdle at 0.8831 (high Oct.28) en route to 0.8843 (high Sep.28) and then 0.8855 (high Sep.1).
On the flip side, a breach of 0.8677 (hourly lows Feb.20) would aim for 0.8609 (MA10d) and finally 0.8587 (MA21d).

Forex: USD/CHF reverses losses, back above 0.9200

The dollar strengthened across the board during the European session as the unexpectedly dovish BoE vote encouraged greenback demand.
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Forex Flash: USD/CAD to close above 1.0135 and then target 1.0250 – TD Securities

The CAD stopped following the upward track in US stocks and continues its under-performance since last Friday. “As we have noted recently, there appears to have been a structural break in January in the way the markets operated in the post-crisis environment”, wrote analysts Shaun Osborne and Greg Moore. TD Securities analysts believe “the risk on/off influence on the CAD has faded quickly over the past month or so, with interest rate spreads (i.e. domestic data developments) having more influence over the CAD these days”.
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