The EURUSD dropped yesterday to 1.1195 from indications showing a mismatch in the direction of the Eurozone and US economies. Consumer price inflation in the Eurozone dropped to 1.4% yoy, suggesting a decline in consumption. The PMI fell to 47.5, the lowest level of 8 months. At the same time, the US ISM rose to 55.3, and the gap between 10-year US and German bond yields jumped to 253 points.
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