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EURUSD: Daily Analysis & Setup update

The dollar recovers after falling to a five-month low against a basket of currencies this week, helped by a rebound in U.S. Treasury yields following a weak sale of 7-year Treasury bonds, and could rise further in early 2024, says Swissquote analyst Ipek Ozkardeskaya in a note.

“I wouldn’t be surprised to see the U.S. dollar recover against most majors in the first weeks of next year.” Either European Central Bank officials talking of possible interest-rate cuts and/or the U.S. Federal Reserve retreating from rate-cut talk could see EUR/USD ease, she says. The DXY dollar index is steady at 101.200, having fallen to a low of 100.6170 on Thursday.

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