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Dollar and yen the laggards on the session so far
It’s tough to pick at catalysts for a move in the dollar so far today as equities are seen on the weaker side and Treasury yields are pushing higher, yet the greenback is marked lower against most major currencies in European morning trade.
The latter may help to keep yen pairs supported with 10-year yields seen at 1.493% – up 2.6 bps on the day. But dollar sentiment is a little iffy even with US futures and European indices sitting lower so far on the session.
EUR/USD is keeping a push up to 1.1615 and trading at session highs currently, closing in on a test of its 100-hour moving average:
Keep below and sellers retain a more bearish near-term bias but break above the bias turns more neutral instead, opening up some room to explore in between that and the 200-hour moving average (blue line) @ 1.1668 currently.
Elsewhere, AUD/USD is up 0.3% to 0.7275 and USD/CAD down 0.3% to a session low of 1.2608 with last week’s lows holding around 1.2600 so that is one to watch.
Besides that, the loonie is also looking to contest key levels against the yen with CAD/JPY knocking on the door of its 100-day moving average once again as buyers also take aim at the August high of 88.46:
