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Forex: Euro remains under pressure
The pair EUR/USD is traded upward on Monday morning, though haven started the day at considerably lower levels against those seen on Friday.
By 9.30 Moscow time the Euro is at 1.4056 against Friday closing session level of 1.4172.
The main reason for the Friday selloff were Philadelphia Fed President Charles Plosser’s hawkish comments. Plosser thinks the US economy is stable, state of labour market – positive and consumer expenditures – supporting for the economy, rising at positive levels.
The day is going to be quiet in terms of macro-statistics: the main data containing personal consumption and income data and Core PCE price index in February will be released in the afternoon.
Most likely the pair EUR/USD will not go beyond the range of 1.4010-1.4130 at the trading session on Monday.