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Forex: EUR/USD hits fresh 3-month low beneath 1.2950

The euro extended losses against the greenback in the wake of strong US retail sales data, and despite a recovery attempt, it recently broke below the 1.2955 area (previous range bottom) to hit a fresh 3-month low.

The euro resumed the downside on Wednesday after repeated failure to overcome the 1.3070 area, put EUR/USD back under pressure, triggering stops below 1.3000 and 1.2955.

At time of writing, EUR/USD is trading around 1.2940, recording a 0.7% loss on the day, having hit its lowest since Dec 11 at 1.2930.

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The NZD/USD has been seemingly devoid of any sweeping movements Wednesday, ahead of the looming RBNZ rate decision and monetary policy statement scheduled for later tonight. Having oscillated in a 43-pip range (0.8235-0.8278) today, the cross has now settled in negative territory at 0.8250/53 at the onset of American trading.
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Forex: GBP/USD trimming gains around 1.4920

The sterling is correcting lower from session highs above 1.4980, as better-than-expected US retail sales during February added buying pressure to the greenback, dragging the cross to the area around 1.4930...
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