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Oil keeps USD in the defensive; Yield spreads ignored

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Yesterday, oil was again the most important driver for global USD trading. A very sharp pre-FOMC setback of US Treasuries widen the yield differential between US and Germany. However, that didn’t really hurt the euro, who gained against the dollar as oil rebounded sharply after hitting a new cycle low. EUR/USD was less affected when oil fell lower. EUR/USD rebounded to the mid 1.10 area, before closing at 1.0994. USD/JPY initial fell lower amongst other by the oil price decline and the general

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