The dollar is leading gains across the board now as we see a slight nudge higher in the currency, continuing the mood from yesterday. This comes as th
The dollar is leading gains across the board now as we see a slight nudge higher in the currency, continuing the mood from yesterday. This comes as the bond selloff continues to deepen as noted earlier here.
EUR/USD is looking to post a fifth straight day of losses as the dribble below 1.0900 sees the pair hit 1.0875 with little support on the way towards testing the March low near 1.0800:
Elsewhere, USD/JPY is on approach to 124.00 again while we are seeing GBP/USD ease to its lowest level in three weeks just under 1.3050. Key support for cable remains at the 1.3000 level so that will be one to watch.
Meanwhile, USD/CAD is also back up to 1.2500 after having neared the 1.2400 level briefly in trading yesterday.
The FOMC meeting minutes release later will be one to watch for any further clues on how the Fed feels about a more aggressive approach in tightening policy, though it might not reveal much. I would argue that recent Fed commentary matters more and Brainard’s comments yesterday clearly underlined that sentiment.
www.forexlive.com