Dollar Set to Break Higher on Positive Data

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Positive USD numbers could lead to further bullish moves in the USD pairs and push the EUR lower, EURGBP pair has broken daily chart uptrend to the downside and might retrace lower. U.S. retail sales increased for a third straight month in December while the labour market remained strong.


Meanwhile, GBP/USD crashed after the UK retail sales disappointed this morning. GBP/USD dropped more than 40 pips on the release. UK retail sales fell by 0.6% in December, causing odds of another BOE rate cut to rise.

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