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FOREX SUMMARY

FOREX

Main story of the day for FX has been the continued better buying of the Dollar across the board.

  • The Greenback is bid against all majors, but the SEK is now the worst performer down 0.65%, closely followed by the JPY on higher US yields, now down 0.53%, after Treasuries futures move off their lows.
  • Next target in USDJPY is seen further out towards 110.63 0.764 proj of Mar - Apr 2020 rally from Jan 6 low
  • Also note, that 110.67 is the May 2019 high
  • EURUSD broke out lower and tested MNI tech support at 1.1711 (05/11 low), printed 1.1712 low at the time of typing.
  • Cable is looking to test the figure at 1.3700, now at 1.3709.
  • Further downside traction in Cable would open towards next support at 1.3670/63 Low Mar 25 / Low Feb 5.
  • CHF is down 0.40% versus the Dollar, as safe haven FX loses ground with risk tilted to the upside.
  • USDCHF trades at 0.9434, just off the session high at 0.9438 (at the time of typing).
  • Looking ahead, Riksbank Ingves and Fed Williams are the speakers left on the calendar for today
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