Dollar firms in European morning trade
With USD/JPY pushing above the 150 mark, it is also underpinning the dollar in general so far. The greenback is trading to its best levels today across the board, benefitting from the market sentiment today. EUR/USD is down 0.2% to 1.0848 and is falling past its 100-day moving average of 1.0863 and now eyeing its 200-day moving average at 1.0838:Meanwhile, USD/JPY stays underpinned as it is up 0.8% to 150.37 currently. The former is sitting just under the highs for the day with the technical situation outlined here. For now, keep above 150.00 and buyers will stay poised to keep the upside run going.AUD/USD is down 0.7% to 0.6513 as sellers resume the drop in the past week, eyeing the 0.6500 mark next.Elsewhere, GBP/USD is marked down by 0.3% to a two-week low of 1.2688 currently. The 100-day moving average at 1.2613 is a key technical target that sellers will be aiming for amid the recent retreat.Looking at broader markets, the dollar is able to find some comfort from bonds over the last week or so. 10-year Treasury yields are sticking at its highest levels for the year to start the week. Yields are at 4.32% currently, hovering nearby its February high of 4.35%. And that is also a reason why USD/JPY sellers are struggling to impose any downside momentum despite the BOJ's historic policy move today. This article was written by Justin Low at www.forexlive.com.
With USD/JPY pushing above the 150 mark, it is also underpinning the dollar in general so far. The greenback is trading to its best levels today across the board, benefitting from the market sentiment today. EUR/USD is down 0.2% to 1.0848 and is falling past its 100-day moving average of 1.0863 and now eyeing its 200-day moving average at 1.0838:
Meanwhile, USD/JPY stays underpinned as it is up 0.8% to 150.37 currently. The former is sitting just under the highs for the day with the technical situation outlined here. For now, keep above 150.00 and buyers will stay poised to keep the upside run going.
AUD/USD is down 0.7% to 0.6513 as sellers resume the drop in the past week, eyeing the 0.6500 mark next.
Elsewhere, GBP/USD is marked down by 0.3% to a two-week low of 1.2688 currently. The 100-day moving average at 1.2613 is a key technical target that sellers will be aiming for amid the recent retreat.
Looking at broader markets, the dollar is able to find some comfort from bonds over the last week or so. 10-year Treasury yields are sticking at its highest levels for the year to start the week. Yields are at 4.32% currently, hovering nearby its February high of 4.35%. And that is also a reason why USD/JPY sellers are struggling to impose any downside momentum despite the BOJ's historic policy move today. This article was written by Justin Low at www.forexlive.com.
