The US Dollar extends gains against the major currencies

The US Dollar started to appreciate in the European session and it’s adding to the gains as we head towards the European close. There was no fresh catalyst this week that justifies the current price action.

This might be just noise from quarter-end and some flows from USD/JPY which broke through the key 160.00 handle and extended the rally as the Japanese officials look more and more armless.

Do note that we hit the limits of the average daily range across most major pairs, so we might start to see some pullbacks in the next hours.

This article was written by Giuseppe Dellamotta at www.forexlive.com.