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

FXStreet (Edinburgh) - The single currency is trading on the back footing at the end of the week, with the EUR/USD now coming down from recent tops around 1.2930.

In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, the pair’s technicals remain mixed in the short term, adding “providing very little direction even as spot drifts lower and below the bottom end of its recent range. Suggest that preference is still short EUR”.

Emmanuel Ng, FX Strategist at OCBC Bank, commented, “The TLTRO allotment came in below expectations at EUR 82.6bn but the broad dollar retracement lower overshadowed any potential EUR vulnerability during the session. We however retain the view that the disparity between the ECB and the Fed may continue to see investors fade rallies within a 1.2800-1.3000 range in the interim”.

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