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EUR/USD Declines as Market Sentiment Worsens

December 11, 2020 by

EUR/USD fell today amid the worsening market sentiment. Analysts speculated that the threat of no-deal Brexit was weighing on the currency pair. US macroeconomic reports were decent, though producer inflation slowed last month.

US PPI rose by 0.1% in November, seasonally adjusted, matching market expectations. The index was up 0.3% in October. (Event A on the chart.)

Michigan Sentiment Index climbed to 81.4 in December from 76.9 in November instead of falling to 76.1 as analysts had predicted. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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