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Forex: Hedge funds buy USD, trend may last - FXWW

FXstreet.com (Barcelona) - On the back of big inflows favoring the US Dollar, best represented by the USD index, which rose to test levels close to 83.50 resistance for a second time since the first failed attempt on April 4, FXWW founder Sean Lee, notes hedge funds have been recently busy piling into USD long positions.

Sean went on to say: "Hedge funds were big buyers of the USD towards the end of last week and once these big players all start trading in one direction, the trend can last for quite some time."

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Forex: EUR/USD gaps lower post G7 meetings

EUR/USD is last trading at 1.2970, following G7 meetings during the weekend, opening slightly lower from previous Friday's close around the 1.2990 level, printing session lows so far at 1.2963. The pair opens with a gap lower still unfilled with session highs at 1.2978.
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