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Jan 06 - 07:55 AM

EUR/USD - COMMENT-EUR/USD May Surf Blue Wave All The Way To 1.30

By Rob Howard  —  Jan 06 - 05:37 AM

Jan 6 (Reuters) - EUR/USD might add to its recent gains if Democrat Jon Ossoff maintains his narrow lead in the Georgia Senate runoff election.
If he does, it will flip control of the Senate to the Democrats, who already control the House, paving the way for more spending under President-elect Joe Biden. nL1N2JG0PL

EUR/USD rose to a 33-month EBS high of 1.2346 on Wednesday on news of Ossoff's lead over David Perdue and Democrat Raphael Warnock's victory in the other Georgia Senate runoff election. nL1N2JH0CS

Bull targets include 1.25 (1.2556 was the 2018 high) and 1.30 (EUR/USD was last at 1.30 in 2014).

Monday's CFTC data showed gross EUR long positions held by IMM speculators continued to dwarf gross EUR shorts in the week to Dec.
29 -- although the net EUR long is 32% less than August's record high of 211,752 contracts. nL1N2JF1YI

Related comments: nL1N2JF0E8nL1N2JH0NW


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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