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16 Mar 2015
EUR/USD fails to hold above 1.0600
FXStreet (Córdoba) - EUR/USD made a brief appearance above 1.0600 at the beginning of the New York session as the euro stages a mild bounce versus its major competitors, although it failed to hold above the psychological level for long.
EUR/USD peaked at 1.0615 but quickly dipped back below 1.0600. However, the downside was contained by the 1.0560 area, confining the pair to a phase of consolidation in the absence of major indicators or news. At time of writing, EUR/USD is trading at 1.0580, still up 0.83% on the day and off a 12-year low of 1.0461 struck late on Friday.
The latest string of disappointing US data - industrial production and NAHB housing market index - had little impact on the dollar as EUR/USD investors' attention turns to Eurozone CPI on Tuesday and the FOMC meeting on Wednesday.
EUR/USD peaked at 1.0615 but quickly dipped back below 1.0600. However, the downside was contained by the 1.0560 area, confining the pair to a phase of consolidation in the absence of major indicators or news. At time of writing, EUR/USD is trading at 1.0580, still up 0.83% on the day and off a 12-year low of 1.0461 struck late on Friday.
The latest string of disappointing US data - industrial production and NAHB housing market index - had little impact on the dollar as EUR/USD investors' attention turns to Eurozone CPI on Tuesday and the FOMC meeting on Wednesday.