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8 Sep 2014
EUR/USD drops to 1.2880, fresh 14-month low
FXStreet (Córdoba) - The US dollar continued to rise against the euro and reached fresh 14-month lows during the American session. EUR/USD broke below 1.2930 and fell to 1.2880, level not seen since July 2013.
Afterwards bounced slightly to the upside and currently trades around 1.2905, down 0.35% for the day so far. From Thursday's highs it has fallen 250 pips.
Last week EUR/USD posted the eight weekly decline in a row; the first time to do so since its creation. Technical indicators were showing oversold readings but the pair resumed the decline after peaking earlier at 1.2955.
Afterwards bounced slightly to the upside and currently trades around 1.2905, down 0.35% for the day so far. From Thursday's highs it has fallen 250 pips.
Last week EUR/USD posted the eight weekly decline in a row; the first time to do so since its creation. Technical indicators were showing oversold readings but the pair resumed the decline after peaking earlier at 1.2955.