EURUSD Technical Analysis – Some consolidation ahead of the FOMC decision ...Middle East

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EURUSD Technical Analysis – Some consolidation ahead of the FOMC decision
Fundamental OverviewThe USD has been rallying steadily against most major currencies in the recent couple of weeks, although the catalyst behind the move has been unclear. A good argument has been that most of the moves we’ve been seeing were driven by deleveraging from strengthening Yen. Basically, the squeeze on the carry trades impacted all the other markets. Given the magnitude of the recent appreciation in the Yen and the correlation with many other markets, it looks like this could have been the reason indeed. It will be interesting to see how things evolve in the next days now that the BoJ decision is in the rear-view mirror and if this correlation fades.From the monetary policy persp

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