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LATEST FOREX NEWS
The EUR Comes to the Dollar’s Rescue Ahead of Tomorrow’s ECB Decision
The EUR Comes to the Dollar’s Rescue Ahead of Tomorrow’s ECB Decision    Macroeconomic data is on the lighter side for the day ahead, leaving the markets to consider the lie of the land ahead of tomorrow’s heavily anticipated ECB monetary policy decision and, more importantly, Draghi press conference, the ECB becoming the centre of attention, with the FED seemingly on a more dovish footing.The EUR rallied to a $1.1554 close on Tuesday, the pickup coming off the back of the Dollar sell-off and market sentiment towards monetary policy, with divergence favouring the EUR over the Dollar for now.There’s plenty of expectation ahead of tomorrow’s press conference and perhaps the markets have overstepped the mark vis-a vis a move tomorrow afternoon, with the ECB yet to have provided the markets with a definitive answer on the timing of a move.Current levels are certainly reasonable when considering economic conditions, the U.S economy on a moderate growth trajectory, whilst the Eurozone shows continued signs of moving from strength to strength, but for the EUR to move beyond $1.15 levels, the markets will need to be convinced of a move and it will need to be sooner rather than later.At the time of the report, the EUR has eased back 0.17% to $1.15345, having hit an intraday high $1.1557 through the Asian session. The downside comes off the back of some appetite for the Dollar, following the latest sell-off and also jitters ahead of tomorrow’s ECB monetary poli…

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