Dollar on track for fourth session of.........>

FOREX: Dollar on track for fourth session of losses as risk improves further

- Risk appetite got a decent jolt, with the positive US close Monday filtering

through well into the European open today. This has translated to lower haven

currencies (JPY is the weakest in G10 so far), helping benefit AUD, GBP, EUR and

others.

- The DXY has taken another leg lower and now sits at multi-month lows and well

below the 12m rolling average. Fundamental news has been few and far between,

although some focus rests on a potential early OPEC+ meeting Thursday, at which

the oil producers could extend the current regime of output cuts.

- EUR/USD goes from strength to strength, with upside accelerating on the move

through clustered resistance at yesterday's high at $1.1154, the late March high

at $1.1163 as well as the 61.8% Fib of the early-mid March decline. This marks

new recovery highs in the pair and turns upside targets higher to eye $1.1237

initially ahead of $1.1292, the final Fib retracement of the March range. Data

release are thin on the ground Tuesday, with markets keeping a close eye on this

Friday Nonfarm Payrolls release.