Dollar sits lower as traders reassess the overnight moves
EUR/USD is now up 0.2% to 1.0905 while USD/JPY has just trickled lower to 147.85 on the day currently. After some modest gains overnight, the dollar is getting checked back now as traders reassess the moves. Of note, 10-year Treasury yields are down 1.6 bps to 4.088% and is barely holding above the 200-day moving average of 4.084% at the moment.I outlined some technical considerations for EUR/USD and USD/JPY earlier and they will be ones to keep an eye out for in the session ahead. But if anything else, keep a close watch on the bond market as it will still have implications for broader markets overall.In other markets, gold is also seen up 0.3% to $2,011 after having neared a test of the $2,000 mark yesterday. Meanwhile, equities struggled yesterday but US futures are now flattish as we look towards European trading today. This article was written by Justin Low at www.forexlive.com.
EUR/USD is now up 0.2% to 1.0905 while USD/JPY has just trickled lower to 147.85 on the day currently. After some modest gains overnight, the dollar is getting checked back now as traders reassess the moves. Of note, 10-year Treasury yields are down 1.6 bps to 4.088% and is barely holding above the 200-day moving average of 4.084% at the moment.
I outlined some technical considerations for EUR/USD and USD/JPY earlier and they will be ones to keep an eye out for in the session ahead. But if anything else, keep a close watch on the bond market as it will still have implications for broader markets overall.
In other markets, gold is also seen up 0.3% to $2,011 after having neared a test of the $2,000 mark yesterday. Meanwhile, equities struggled yesterday but US futures are now flattish as we look towards European trading today. This article was written by Justin Low at www.forexlive.com.
