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Euro: Downside pressure targets 1.1490 against US Dollar – UOB
The Euro is facing significant downside pressure against the US Dollar, with UOB targeting 1.1490 as it grapples with a recent technical breakdown in EUR/USD. This bearish sentiment aligns with a broader institutional view that suggests near-term consolidation will favor dollar strength. Traders are likely reacting to the changing dynamics from the European Central Bank's recent decisions, which continue to introduce uncertainty for the Euro's trajectory.