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EUR/USD bounces off lows and retargets 1.0800 ahead of Lagarde

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EUR/USD regains some upside traction following Tuesday鈥檚 marked pullback and attempts to leave behind the area of recent monthly lows around 1.0760 on Wednesday.

In the meantime, the tepid recovery attempt in the pair comes along an improvement in the risk-associated universe despite US debt talks now seem to have entered a pause until the next week, according to latest news.

No reaction in the FX universe from the lower-than-expected Business Climate tracked by the IFO institute in Germany. Indeed, the survey showed a drop to 91.7 in May while Current Conditions receded to 88.6 (from 94.8) and Expectations improved to 94.8 (from 92.2).

Data wise in the US, usual weekly MBA Mortgage Applications are due seconded by the publication of the FOMC Minutes of the May event.

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Appreciate the update! EUR/USD is rebounding, targeting 1.0800. Risk sentiment improves despite US debt talks on pause. Lower-than-expected Business Climate in Germany, But FX market remains steady. Keep an eye out for weekly MBA Mortgage Applications and FOMC minutes. Exciting times in the currency market!

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