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Dollar extends decline

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Yesterday, the USD sell-off continued, albeit at a slightly slower pace. There was little economic news. Investors continue to adapt positions away from the US currency as chances on another short term Fed rate hike crumbled. Soft talk from ECB’s Draghi didn’t cap the topside of EUR/USD. This time, there was no obvious one-on-one link between oil and the dollar. EUR/USD closed the session at 1.1209 (from 1.1105). USD/JPY dropped to close the session at 116.78, down from 117.90 on Wednesday.

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