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Forex: EUR/USD backs away from highs

The euro lost momentum after rallying to a fresh 2-month high against the greenback in the wake of disappointing US employment data. However, as investors assess the figures, risk aversion started to sharpen, allowing the USD to recover some ground.
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US: ISM Manufacturing PMI disappoints, at 50.7 in April

The April update of the ISM manufacturing PMI dropped from 51.3 to 50.7, disappointing investors by coming below market consensus of 50.9.
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