January 31, 2025 07:46 GMT
USD: Some early selling going through into the EU Session
USD
- The Dollar is mostly in the red against G10s going into the European session, as the Currencies unwind some of their late weakness Yesterday evening, on the back of Trump's comment on CAD and MEX.
- The best early performer is the AUD, and the AUDUSD cross is close to have fully reversed Yesterday's fall, would just need a test back to 0.6238, just 4 pips away now, while Yesterday's high stands at 0.6244.
- At the other end for G10 FX, the Yen is the only worst early performer, down 0.22%, the tick higher in Yield has been supportive of the Dollar as well as earlier comment from BoJ Ueda, noting that the underlying inflation trend remains below 2%, and to keep policy accommodative.
- Overall the early price action is seeing some USD selling, Month End for the Dollar differs from Bank to Bank, some sees USD selling, some buying.
- Month End in Govies could come into play as Yields can be affected.
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