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EUR/USD getting off to a poor start - FXStreet

Ani Salama, economist at FXStreet explained the conditions surrounding EUR/USD at the start of the US week.

Key Quotes:

"The dollar traded higher across the board on Monday, posting sharp gains against the pound and the euro amid renewed fears of a Brexit. The shared currency was further weighed by disappointing PMIs readings and advances in stocks amid higher oil prices. During the New York session, data showed US national activity improved, with the Chicago Fed index rising to 0.28 in January versus -0.34 the previous month, while Markit manufacturing PMI for February came in at 51.0 slightly below the 52.0 expected.

EUR/USD fell sharply and bottomed out at 1.1003, where the 200-day SMA halted the decline at the beginning of the American session. The pair closed the day with losses after a short-lived bounce seen on Friday."

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Analysts at Brown Brothers Harriman explained that in the foreign exchange market, sterling's slide is the main feature and offered the key events making the headlines so far.
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US stocks gain as oil prices rally

Wall Street surged on Monday, helped by a sharp rally in oil prices that lifted energy stocks.
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