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Euro spills below 1.12, nears May low

EUR/USD hits stops below 1.1200

The hawkish Fed rhetoric hasn't had the lasting dollar impact you would expect. Specs aren't long dollars, for the most part, at least according to the CFTC positioning data.

Hike probabilities for June have bumped up to 32% from 28% on Friday. That might be spilling over to the US dollar or it could be real money beginning to shift.

For the moment, EUR/USD is sinking towards last week's low of 1.1179. If that breaks, the next support level is the late-March low of 1.1142 followed by the mid-March low of 1.1057.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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