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What’s the sentiment around the EUR/USD today? – OCBC Bank and Scotiabank

FXStreet (Edinburgh) - The single currency is now flat-lining around the mid-1.2900s vs. the greenback, taking the EUR/USD lower from yesterday’s peaks in the boundaries of 1.3000 the figure and with the FOMC meeting on the horizon.

“The EUR-USD all but ignored the disappointing September ZEW as the dollar weakened across the board on Tuesday. Absent any follow through in the run up to the FOMC today, the pair may continue to be bracketed by a 1.2900-1.3000 range although markets may still prefer to fade excessive upticks”, observed Emmanuel Ng, FX Strategist at OCBC Bank.

In addition, Chief FX Strategist Camilla Sutton at Scotiabank, suggested, “The focus for EUR is the Fed, ECB TLTRO allotment and CPI. We are EUR bears, expecting it to close next year at 1.24; but recent spot movement suggests the currency is waiting for a fresh catalyst to push it lower”.

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