Dollar holds firmer to start the new week

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The greenback continues to stay buoyed in the lead up to the FOMC meeting on 4 May this week, as it is sitting higher across the board so far today. USD/JPY is up 0.4% to 130.30 levels as buyers are looking to hold a push above the pivotal 130.00 mark:

That remains the key line in the sand to watch for the week as a firm hold above the figure level post-FOMC will allow for a solid platform to build towards the 135.00 level next.

Elsewhere, the dollar is posting light gains across the board with GBP/USD down 0.2% to 1.2550 as sellers continue to try and look to pressure support around 1.2500. AUD/USD is down 0.2% to 0.7050 as the downside momentum continues to stay the course with support at 0.7000 eyed.

Meanwhile, EUR/USD is down slightly to 1.0520 levels as last Friday’s bounce isn’t leading to much with sellers staying poised to try and look towards the 1.0400 level.

EURUSD W1 02-05

There might be more of a push and pull feel ahead of the Fed but I would expect the dollar to hold its own for the most part following the unrelenting push higher in April.

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