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Jun 09 - 07:55 PM

EUR/USD - Slips To A 1-Mth Low In Asia; France Calls Shock Election

By Krishna K  —  Jun 09 - 05:35 PM
  • EUR/USD -0.3% early as far-right parties perform strongly in Europe vote

  • France's President Macron calls national poll after defeat

  • German far-right makes strong gains in EU vote, ruling parties suffer

  • Raises questions about how EU's major powers can drive policy in the bloc

  • Euro was already under pressure after closing 0.8% lower Friday

  • Undermined by fading Fed rate cut bets following strong U.S. jobs report

  • Diverging Fed-ECB rate expectations weigh; US CPI, Fed rate announcement Wed

  • Markets in Australia, China, Hong Kong and Taiwan closed Monday

  • Fri range 1.0903-1.0799, Asia range 1.079925-1.0764

  • Support 1.0758, 50% of April-June rally; resistance 1.0800-10

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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