Dollar stays pinned down alongside yields ahead of US trading

After a bit of a lackluster start to the session in Europe, we’re starting to see things pick up again now nearing US trading. The dollar opened with a gap lower with focus on the US election tomorrow and is now starting to track back to the lows for the day. USD/JPY is back down to 151.60 with eyes on its 200-day moving average of 151.54 currently. The pair had opened with a gap lower of around 152.16 at the start of trading this week.

Elsewhere, EUR/USD is also hovering near the highs for the day with the pair up 0.7% to 1.0910 currently. Meanwhile, USD/CHF is down 0.9% to 0.8623 and GBP/USD up 0.4% to 1.2975 at the moment.

All of this comes with 10-year Treasury yields being pinned down by almost 11 bps to 4.276% on the day. It had started off European trading around 4.31%, just to give a bit of context to the moves during the session.

It’s all about the US election tomorrow and the moves here are reflective of a change in odds for Harris since the weekend. From earlier in the day: Dollar on the backfoot with focus on the US election tomorrow

And in case you missed the other headlines:

• Three reasons why US presidential odds have tightened
• Harris odds jump further after influential Iowa poll shows her with a shocking lead
• Final New York Times poll shows razor-tight Presidential race

Here’s the latest odds as we look to the day ahead:

This article was written by Justin Low at www.forexlive.com.