The euro might be under fresh selling pressure as an ECB official recently spoke of the possibility of negative deposit rates in the region.
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The US dollar experienced some volatility during Janet Yellen’s testimony in front of Congress in the latest US trading session.
AUD/USD made a strong break above a recent resistance level, thanks to reassuring comments from Fed Chairperson Janet Yellen. However, price seems to be stalling around the .9000 major psychological level and might need to make a pullback before resuming its rally.
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The US dollar continued to lose ground to most of its major counterparts, despite the lack of top-tier data released in the latest New York session.
NZD/USD recently broke below the ascending trend line on its 4-hour time frame and dipped below the .8100 mark. However, weak data from the US and improved risk sentiment have allowed the pair to pull back to the former support level.
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The US dollar closed Friday on a weak note because the US non-farm payrolls report printed weaker than expected results.
GBP/USD just broke below the long-term rising trend line on its 4-hour chart recently but appears ready to make a pullback before resuming its selloff.
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The US dollar was stuck in consolidation against most of its major currency counterparts, although US data came in weaker than expected yesterday.
USD/JPY might be in for a bit of consolidation in the trading hours leading up to the US non-farm payrolls release. Another weak figure is expected, as cold weather conditions could weigh on the employment change figure for January.
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The US dollar edged lower than most of its major counterparts in recent trading, as data from the US economy came in mostly weaker than expected.