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Risk On leads USD lower

USD
  • NOK, AUD, NZD are the early best performers, and the Dollar is down against all the majors, besides the Yen.
  • NOK has benefited from the Rally in OIl, with WTI breaching above $116.00, as China eased lockdowns.
  • Safer Haven currencies, CHF and JPY are on the back foot taking their from the Risk On tone.
  • Immediate support in USDNOK is at 9.4054, the 38.2% short term retrace of the March/May rally.

Chart source: MNI/Bloomberg

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