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EUR/GBP Price Analysis: Downside risk persist below 0 8600 ahead of UK, Eurozone data
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The selling pressure in the Japanese currency underpins the continuation of the upside momentum in EUR/JPY to fresh YTD tops beyond 134.00 the figure.
4/29/2021 8:54:32 AM GMT | By Pablo Piovano
EUR/USD comes under downside pressure, still above 1.2100.
Higher US yields sustain the bounce off lows in the dollar.
German advanced April CPI figures next in the calendar.
After hitting fresh monthly highs around 1.2150 during early trade,
EUR/USD saw its gains trimmed and now tumbles to session lows in the 1.2110 region.
EUR/USD recedes from 2-month peaks
The rally in EUR/USD manages to reach fresh tops in the 1.2150 region earlier in the Asian session on Thursday, although the move run out of some steam soon afterwards and in response to the resurgence of the buying interest in the dollar.
Apr 29, 2021 16:06 GMTFXStreet News
EUR/USD loses the grip further and approaches 1.2100.
The dollar looks bid on the back of higher US yields.
Flash German CPI surpassed estimates for the month of April.
EUR/USD remains under pressure and now flirts with a potential visit to the 1.2100 neighbourhood.
EUR/USD offered following monthly highs
EUR/USD interrupts two consecutive days with gains and now meets some downside pressure despite the initial uptick to new monthly levels in the 1.2150 region.
The corrective downside in the pair comes on the back of the pick-up in the buying interest around the dollar, in turn sustained by the strong bounce in US yields. In fact, yields of the us 10-year note climb to new 2-week highs in the vicinity of 1.70%, fading the post-FOMC pullback to the vicinity of 1.60%.
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