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Forex: EUR/USD tests overnight lows, around 1.2930/35

FXstreet.com (Barcelona) - The single currency is grinding lower on Thursday, extending the overnight decline to the current area of 1.2930/35 ahead of the batch of PMI data in the euro zone.

The selling interest in the euro picked up pace yesterday on a neutral tone from Chief Bernanke’s press conference and after the Fed left intact its monetary policy, broadly in line with market expectations.

As of writing, the pair is losing 0.06% at 1.2936 with the immediate support at 1.2900 (intraday support) followed by 1.2844 (low Mar.19) and then 1.2827 (low Nov.22).
On the flip side, a break above 1.2973 (high Mar.20) would expose 1.2980 (MA200h) and finally 1.3046 (MA21d).

Forex: GBP/USD flat for the week around 1.5100 despite all the noise

Following the 75 pips swings to both sides first to weekly lows 1.5027 yesterday followed by weekly highs at 1.5187, Cable is at the same point is was last Friday by the closing bell around the 1.5117 last, unchanged for the whole week so far. According to BK Asset Management director Kathy Lien: “The Bank of England did not grow more dovish in the face of weakening economic data,” the analyst notes, while “Instead, they expressed concerns about unwanted depreciation of their currency and the impact that it could have on inflationary pressures.”
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