The dollar and yen remained on a softening tack, the pound hit fresh lows before paring losses, while the euro and dollar bloc currencies occupied the outperforming lane. EUR-USD drifted higher, posting an intraday peak at 1.1874. Broad demand for the euro has been driving, while concurrent gains in the dollar bloc currencies have been putting pressure on the dollar. ECB’s signalling yesterday has been supporting the euro, which gave no indication of further accommodation and disappointing hopes for a dovish slant.

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