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Dollar ceding further ground on poor US data

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On Wednesday, the dollar stayed under pressure. Global sentiment on risk softened and the US data (retail sales and PPI) disappointed, making a 2015 Fed rate hike less likely. The dollar paid the price. USD/JPY closed the session at 118.83 (from 119.75). EUR/USD ended the session at 1.1474 (from 1.1379). So, the 1.1460 resistance is under heavy strain. The Fed Beige book had a slightly soft bias, putting additional pressure on the US currency. Overnight, Asian equities opened mixed, but

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