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Euro on recovery mode after Nowotny, eyeing Draghi – BBH

FXStreet (Delhi) – Research Team at BBH, note that the euro recovered toward $1.1150, with the help of ECB's Nowotny playing down the urgency of expanding or extending the asset purchase program.

Key Quotes

“Draghi is expected to reiterate the flexibility of the current program before the European Parliament today, while the Bundesbank's Weidmann can be expected to resist such notions when he speaks to a business association in Germany later today. The euro is consolidating after approaching $1.11 in Asia. Key chart support is seen near $1.1080.”

GBP: Focus on Broadbent speech on UK labour market - MUFG

Derek Halpenny, Research Analyst at MUFG, notes that today’s speech by Ben Broadbent on the labour market may prove crucial as in early August he described the economic recovery as “well-embedded” but was mindful of international developments.
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EUR/JPY upside stalled at hourly 50-MA

The bid tone on the EUR improved following less dovish talk by the ECB policymakers, although the rise in the EUR/JPY pair appears to have come to halt around its hourly 50-MA located at 134.25.
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