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Dollar Firms Further Through London Close

FOREX
  • The dollar's gradual US-hours incline continues - putting USD/CNH through the overnight and Thursday highs to narrow the gap with 6.8981 resistance.
  • Most other pairs another expression of USD strength, as EUR/USD, GBP/USD plumb new daily lows and USD/JPY clears to an April high of 134.47.
  • Bumper Empire manufacturing data remains the initial trigger (+10.8 vs. Exp. -18.0) and the shakier financial earnings today (Charles Schwab, State Street) have done little to deter the currency.
  • 102.522 marks the 76.4% retracement for the April dollar downleg, a break above which opens 103.058.

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