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USD remains bid - Investec

FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, observes the firm tone from the greenback.

Key Quotes

"The US Dollar has managed to hold on to recent gains amidst selling pressures at the tail end of last week from month end fixing flows. Geopolitical tensions, particularly between Ukraine and Russia causing unease in the markets combined with better US data have helped the greenback in recent sessions."

"Weaker Chinese PMI Manufacturing overnight only served to keep the US Dollar bid into today's open. The euro, in contrast, has continued to weaken after a dovish speech from ECB President Mario Draghi a week ago at Jackson Hole leaving some investors looking for additional easing this week, although a full blown ABS purchase scheme may not have all the details ironed out in time - we could certainly see the deposit rate lowered further into negative territory which would hurt the euro badly and would almost certainly mean 1.30 in EURUSD becomes a real possibility."

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