Dollar loses further ground on the day | Forexlive
This comes as equities are looking fairly optimistic so far on the session, with S&P 500 futures now up 12 points, or 0.3%, on the day. The dollar is being pressured further with USD/JPY now falling to 135.60 levels and threatening a push back below its 100-hour moving average (red line):
The key hourly moving averages have been a particularly sensitive near-term level for the pair on the way up in February, as highlighted by several bounces off them previously.
A drop below the 100-hour moving average will see the near-term bias shift to being more neutral for USD/JPY. And that will feed into a further shift in the technical lines for the dollar alongside the others from earlier here.
Elsewhere, EUR/USD is pushing up to 1.0650 – higher by 0.7% on the day – while GBP/USD is up 0.5% to 1.2080 currently.