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EUR/USD upside still limited by 1.10 – Westpac

FXStreet (Edinburgh) - The upside in the pair could find a tough barrier in the 1.10 neighbourhood, suggested Sean Callow, Strategist at Westpac.

Key Quotes

EUR/USD looks like it may well continue to tread water between 1.05 and 1.10, torn by ongoing ECB QE on the one hand and a still uninspiring run of US data on the other hand”.

“Worth noting that short term yield spreads are gently trending in EUR’s favour, even as Draghi’s press conference doused concerns about scarcity of suitable bonds for QE and strongly signaled full steam ahead for QE”.

“Next week’s PMI surveys probably build on the recovery momentum that has formed in the last several months while US data next week (durable goods orders and new and existing home sales) seem unlikely candidates for a rapid reversal of sentiment on US growth prospects”.

“EUR bounce likely to fail into 1.10 with 10yr bund yields likely to trade negative in the near future”.

GBP/USD rises above 1.49

The USD sellers returned out of nowhere, pushing the GBP/USD pair to a high of 1.4922 from the session low of 1.4810.
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EUR/DKK to range-trade between 7.4440-7.4720 – Danske Bank

In the opinion of Jens Pedersen, Senior Analyst at Danske Bank, the cross would keep trading within the 7.4440-7.4720 range...
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