The euro has been heavy, with EUR-USD ebbing to the lower 1.09s in the wake of dovish remarks from ECB boss Draghi after the European close yesterday, who said that the central bank will use all instruments, if warranted. While nothing new, his comments bring into relief the contrast with the Fed's bias. Upcoming Fed speakers are likely to leave the door open for a possible tightening in December. EUR-USD's Oct-28 low at 1.0897 is the next target ahead of the Jul-20 low at 1.0808.
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