The dollar majors were sitting at near net unchanged levels heading into the London interbank open today. EUR-USD late yesterday traded below 1.2100 for the first time in early January, extending the latest phase of losses which were seen in the wake of the dovish-tilting guidance of ECB President Draghi yesterday, following the central bank’s April policy review. Recent EUR-USD losses have been driven mostly by dollar outperformance, underpinned by the mix of looser U.S.
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