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EUR/USD Tops Monday NY High, Nears Recovery Resistance

EUR
  • EUR firms to new daily highs in recent trade, rising just over 10 pips to top yesterday's NY hours high and narrow the gap with the weekly high of 1.0789.
  • GBP/USD inches higher in tandem, with pair just above 1.2600 handle, with activity picking up slightly after the US public holiday on Monday.
  • So far today, volumes are looking healthier, with the latest bump higher in EUR tipping cumulative daily volumes just ahead of average for this time of day. GBP fares less well, with total volumes ~20% below what you'd normally see at 0930GMT. AUD, JPY contracts the same.

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