The focus of the foreign exchange market has been on the Japanese Yen all week and while that will remain the case for the most part in the coming week, we can't lose sight of some important events impacting the EUR/USD. While the intraday volatility in the EUR/USD increased this week, the currency pair has been trapped within a tight 150 pip trading range. What is interesting about the price action is that the consolidation is happening at a 10 month high, leading investors to wonder if the EUR/USD is pausing before a stronger move higher or in the process of topping out.
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