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23 Feb 2016
EUR/USD: wrap up, under pressure - FXStreet
Ani Salama, economist at FXstreet, explained the conditions surrounding EUR/USD today in the Us shift.
Key Quotes:
"The euro managed to steady on Tuesday while the pound extended losses to fresh cycle lows against the US dollar as appetite for risk lost momentum and concerns over a possible ‘Brexit’ continued to weigh.
EUR/USD came under pressure during the European session on the back of disappointing German IFO report which showed business climate index fell to 105.7 in February, below the 106.8 reading expected, while the expectations index hit 98.8, its lowest level since November 2014. During the American afternoon US data came in mixed, but the dollar barely reacted.
EUR/USD briefly fell below the 1.10 mark and posted its lowest level in 3 weeks at 1.0989 but managed to recover slightly and spent the last hours in a range just above 1.1010."
Key Quotes:
"The euro managed to steady on Tuesday while the pound extended losses to fresh cycle lows against the US dollar as appetite for risk lost momentum and concerns over a possible ‘Brexit’ continued to weigh.
EUR/USD came under pressure during the European session on the back of disappointing German IFO report which showed business climate index fell to 105.7 in February, below the 106.8 reading expected, while the expectations index hit 98.8, its lowest level since November 2014. During the American afternoon US data came in mixed, but the dollar barely reacted.
EUR/USD briefly fell below the 1.10 mark and posted its lowest level in 3 weeks at 1.0989 but managed to recover slightly and spent the last hours in a range just above 1.1010."