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EUR/USD NEEDS MORE TO MAKE WEDNESDAY'S RALLY STICK -- MARKET TALK
15 September 2016, 01:35
0135 GMT [Dow Jones] EUR/USD is struggling to build on Wednesday's rally, even as a bullish chart trigger looms closer, which ought to entice euro-bulls. If EUR/USD manages to close above 1.1282, the Bollinger uptrend channel will be activated. The dollar slipped slightly overnight, lifting EUR/USD, as the yield on the U.S. 10-year Treasury note subsided back to 1.70%. Though the odds of another U.S. interest rate-rise have dwindled, traders in Asia seem unable to shake the niggling fear that the Fed may have to raise rates sometime this year, to maintain its credibility. The dollar has been on the ascent against most Asian currencies over the past week. That fear could spread to EUR/USD and keep the euro from entering the Bollinger uptrend channel. EUR/USD is now 1.1242 from its Wednesday closing of 1.1249. (ewen.chew@wsj.com)
Editor: MNG
(END) Dow Jones Newswires
September 14, 2016 21:35 ET (01:35 GMT)
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