Dollar holds firmer ahead of European trading


The dollar recovers some ground after the drop yesterday

The dollar is advancing to the highs for the day ahead of European morning trade today, with EUR/USD seen slipping to 1.1871 and USD/JPY rising to 108.91 currently.

EUR/USD D1 10-03
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The former is easing from 1.1900 as sellers keep near-term control and are still staying in search of a firmer test of the 200-day moving average (blue line) @ 1.1832.

Elsewhere, the greenback is also maintaining a modest advance against the commodity currencies with USD/CAD up 0.3% to 1.2680 and AUD/USD down 0.5% to 0.7670.

US Treasury yields are keeping a touch higher, with 10-year yields up 1 bps to 1.537%, though keeping lower compared to the levels seen last Friday and on Monday.

USGG10YR

The risk rebound yesterday is also fizzling out as US futures are seen down 0.2% after a more solid session yesterday.

It may be a relatively quiet one in Europe with the push and pull this week still playing out ahead of the 10-year Treasury auction in US trading later.



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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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