EUR/USD manages to regain some upside traction and advances to the 0.9870 region on Thursday after a subsequent test of the 0.9800 neighborhood.
EUR/USD partly pushed higher after the Fed-induced pullback caused the pair to withdraw on Wednesday and earlier on Thursday to the area previously visited in late October 2002 near the 0.9800 mark.
The daily recovery in the spot is due to the changed trading pressure around the dollar. Investors seem to be cashing up some gains considering the sharp uptick in the dawn of the Fed’s decision to hike rates at its meeting on Wednesday.
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