EUR-USD drifted back under 1.1100 after yesterday's big rally to 1.1188, which is the highest level seen since Mar-3. The rally smashed through a number of previous daily highs seen through Mar-18 and Apr-6 between 1.1014 and 1.1052, which now revert as support levels. Sub-expectations U.S. GDP and a dovish spin from the Fed drove the dollar lower, with markets now looking September as the earliest date for a policy tightening as such as move by June now looks off the cards.
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