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    Forex: Euro Fell to 1.1065 as Japanese Yen Gains & Firm U.S. Core CPI Data

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    EURUSD: The euro initially rose to 1.1139 from 1.1110 at the start of the European session. However, it quickly fell to 1.1075 (-64 pips) as the euro fell mainly on the advances of the Japanese yen which rose across the board on buying interest. The EURUSD's decline followed the path of EURJPY with WTI Crude oil falling below $30/barrel and European stocks fell. DAX is -0.76%, Euro Stoxx -0.84% as of 11:30 GMT. Adding pressure to the euro, the U.S. Core CPI rose 0.3% in January from 0.2% in December. Total CPI was little changed, remaining subdued by the recent fall of oil and energy prices. The euro fell against the firm US dollar from 1.1098 to 1.1065 after the CPI data. Friday short covering rebound took the rate back to 1.1100. The 21 DMA support is 1.0968 and 200 DMA support at 1.1050.

     

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