Greenback holds firmer in European morning commerce

After a little bit of a pause in the previous few days, the greenback is beginning to flex its muscle mass as soon as once more. The buck is sitting atop the main currencies bloc, now extending features throughout the board on the day. USD/JPY already traded somewhat increased earlier however now different greenback pairs are catching up. EUR/USD is at present seen down by zero.four% to 1.0556:

The pair did break beneath its 100-hour shifting common (pink line) yesterday however it owed to risk-off flows, arguably pushed by geopolitical headlines. That reversed course later within the day however now, we’re seeing regular flows to nudge the pair again beneath the important thing near-term stage once more.

Maintain beneath that and sellers will reestablish a extra bearish near-term bias within the pair. So, that is a key technical growth to be conscious of.

Elsewhere, USD/JPY is now up zero.7% to 155.80 whereas AUD/USD is down zero.four% to zero.6510 on the day. The greenback is seen firming right here as bond yields are additionally pushing increased. 10-year Treasury yields at the moment are up over four bps on the day to four.42% on the session.

Are we beginning to swing again to the post-election momentum after catching a breather?

This text was written by Justin Low at www.ubaidahsan.com.



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