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EURO/USD: EURO is being corrected under pressure from Chinese news
The pair EUR/USD is being corrected at the Forex currency market on Tuesday amid investors’ risk aversion caused by expectations of new measures from Chinese authorities.
By 9.25 Moscow time the Euro is at 1.4480 against yesterday’s closing level of 1.4539.
China declared at the beginning of the week that inflationary pressure remains high and Central bank intends to adhere to the current monetary policy. Observers believe it is possible that China will increase interest rate in the coming days.
Inflation in China amounted to 5.5% in May; preliminary estimate had been-6.2%.
American investors are coming back to the market today after the day off yesterday.
Most likely the pair EUR/USD will not go beyond the range of 1.4420-1.4510 at the trading session in the middle on Tuesday.
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