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EUR/USD quiet in Asia, gyrates around 1.12

FXStreet (Mumbai) - The EUR/USD pair is trading quietly around 1.12 handle in Asia today, after having suffered almost 1% loss in the previous session to close below its 200-DMA.

Fed policymakers talk up the US dollar

The Greenback strengthened across the board on Monday and remained on a strong footing in Asia as investors once again gear up for the probability of the rate hike next month. Over the weekend, San Francisco Fed president John Williams emphasized that the FOMC's decision to leave rates unchanged for a 55th consecutive meeting was a "close call”.

Meanwhile, James Bullard also reiterated his call for a rate hike. Being a a non-voting member of the committee, he said that he would have dissented if he had a vote last week.

Ahead in the day the spot could be influenced by the sentiment in the stock markets and by reports on Eurozone economic sentiment and consumer confidence for September.

EUR/USD Technical Levels

At 1.1198, the immediate resistance is seen at 1.1211 (200-DMA), above which the pair could re-test 1.1280 (10-DMA). On the other side, support is seen at 1.1181 (Monday’s low) and 1.1148 (100-DMA).

Asian stocks track Wall Street higher

Asian indices rebounded on Tuesday, giving back yesterday’s heavy losses in an otherwise quiet session, with a data-light macro calendar for the region and Japanese markets closed on a three-day break.
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Japan: Abenomics losing its shine - BBH

Research Team at BBH, note that the much hyped abenomics is losing its shine with Japanese markets closed until Thursday and the after they re-open, Japan is expected to report that core inflation fell back below zero for the first time since April 2013.
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