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Euro dragged lower as dollar bid in the final Fed countdown

Jitters about a less-dovish Fed hurt EUR/USD

The euro has fallen 30 pips since the start of US trading and has given up all this week’s gains.

The late dollar-bid indicates some jitters about a less-dovish Fed. If the outcome is a 25 basis point cut and anything that indicates Powell won’t cut again in September (it’s 73% priced in), then I think the path for the dollar is higher and EUR/USD will fall through 1.1100.

ForexLive

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