Thursday , 14 November 2024
Home Forex The dollar train continues to march on
Forex

The dollar train continues to march on

All aboard now. The dollar train is marching forward on the session, stretching gains across the board. The post-election momentum continues to play out and it’s still not the time to be guessing the top just yet. EUR/USD is now down 0.5% to 1.0508 as it corroborates with the inevitable pull towards 1.0500.

As mentioned in the linked post above, this is where the real test comes in for the pair as we look towards the end of this week. EUR/USD has been more or less stuck within a range of around 1.0500 to 1.1200 since the start of 2023. So, this makes the latest downside shove a major one to watch as price reaches a critical technical juncture.

Besides that, USD/JPY is once again trading back above 156.00 to 156.20 now. Then, we have GBP/USD slumping to its lowest since July – down 0.5% to 1.2635 currently. AUD/USD is also feeling the pressure as it is down 0.5% to 0.6455 currently and poised for its lowest daily close since April.

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

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Gold shows some life falling to the lowest since September

The gold market was pricing for uncertainty into the US election but...

ECB’s Schnabel: Asset purchases are more powerful for stabilizing markets than econ

Warns against relying on stable macroeconomic relationshipsInflation risks have shifted from downside...

Bank of England’s Bailey: The UK must preserve free trade

Urges UK not to counter protectionism with tariffsWe must welcome opportunity to...

Trump trades are cooling off today

The sugar-high from the Trump election is wearing off in a few...