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According to preliminary data from CME Group for EUR futures markets, open interest shrunk by nearly 164.5K contracts on Wednesday, the largest single-day drop so far this year. Volume, instead, reversed three consecutive drops and rose by around 41.2K contracts.

EUR/USD supported at 1.0800 for now

EUR/USD dropped and tested the 1.08 neighbourhood on Wednesday. The correction lower, however, was in tandem with declining open interest, signalling that a deeper pullback looks unlikely at least in the near-term.