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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD weaker, as GBP/USD and USD/JPY hold steady

Some of the dollar strength of recent days has abated, stalling the rally in USD/JPY and resulting in a slowdown in EUR/USD’s pullback.

Source: Bloomberg

EUR/USD pullback slows

The pace of decline over the past few sessions has slowed, and while the sellers continue to press their advantage, a bigger move below $1.20 still eludes them. As a result, the bearish view occasioned by the retreat from $1.2150 is beginning to lose its strength. A recovery back above $1.2050 would help to suggest that a new leg higher has begun.

Source: ProRealTime

GBP/USD still struggling below $1.40

The pair remains in the sideways pattern of the past six weeks, although the recovery seen this week has helped to boost hopes of a breakout to the upside above $1.40. Today’s Bank of England (BoE) meeting is unlikely to provide much in the way of volatility, with GBP/USD’s fate likely resting in the hands of the Federal Reserve and further US data this week.

Source: ProRealTime

USD/JPY rally stalls

The bounce from the lows at the end of April has slowed, unable to push on above Y109.40. Sellers will be watching for a drop back below Y108.80 that could spark a renewed fall, while buyers will want to see Y109.50 recovered to open the path to the highs from the end of March above Y110.50.

Source: ProRealTime

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