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Another positive start for the Dollar

USD
  • It's another positive session for the Dollar, with the Greenback taking its cue from the fall in Equities and the Rallies in Yields, as Investors price out the amount of forward cumulative cuts from the major Central Banks.
  • After trading at its best levels since March two sessions ago, the Kiwi has been paring gains and is today's worst performer, down 0.34%, and eyeing immediate support at 0.6083 in NZDUSD.
  • USDJPY has managed to fall back below the 157.00 handle going into the European session, some have suggested some safer Haven flow, but that doesn't match since Equities have been falling for the past few sessions, with Estoxx losing 132 points in the past three, Emini 89 points, while the Yen has been under pressure across the board of late.
  • Intervention risks has likely been the driver, as USDJPY tested the 157.59 area, where it was trading on the second speculated intervention, with buy JPY orders going through on the CME.
  • USDJPY did managed a 157.67 high overnight, but given the pullback, support will now come at 156.10 (20 day EMA).
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