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EUR/USD has quickly bounced from sub-1.2200 as bulls maintain the pressure ahead of FOMC Minutes. The pair peaked at 1.2245 and is expected to see further gains on a break above this level, Valeria Bednarik, Chief Analyst at FXStreet, briefs.

See:  EUR/USD to tackle the year high of 1.2349 as Europe plots path out of lockdown – MUFG

Market players are waiting for the FOMC Meeting Minutes

“The EU published the final reading of April inflation figures. The Consumer Price Index was up by 1.6% YoY as expected, although the core reading contracted to 0.7% from 0.8% previously.”  

“The US won’t publish relevant macroeconomic data but the US Federal Reserve will release the Minutes of its latest meeting, in which officers repeated their cautious approach to monetary policy.”

“The EUR/USD pair will likely accelerate its advance on a break above the 1.2245 daily high.”



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