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USD drops across the board

USD declined on the announcement that Larry Summers withdrew from the race for chairman of the Federal Reserve

By Richard Nehme | Sept. 17, 2013 17:00 BST
Euro continues to benefit from weaker USD
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USD declined across the board on the announcement that Larry Summers withdrew from the race for chairmen of the Federal Reserve, leaving Janet Yellen as the frontrunner for the position. EURUSD climbed throughout the morning to hit a session high of 1.3386 at start of US open around 2pm. During the afternoon, we saw EUR retrace earlier gains as the market prepared itself ahead of the German ZEW sentiment this morning [...]

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