ForexLive European FX news wrap: The dollar selling continues | Forexlive
Dollar technicals:
Headlines:
Markets:
- AUD leads, JPY lags on the day
- European equities higher; S&P 500 futures up 0.3%
- US 10-year yields down 3.7 bps to 3.824%
- Gold up 0.1% to $1,959.73
- WTI crude up 0.2% to $75.86
- Bitcoin up 0.7% to $30,558
We are getting a continuation of the dollar slide from yesterday, as the greenback is seen falling apart across multiple charts following the softer US CPI data yesterday.
Traders were already testing waters in the run up and the inflation numbers gave reason to stick with the selling conviction this week, which is continuing now.
EUR/USD is up another 0.4% to 1.1170 while GBP/USD is up 0.6% to test waters above the 1.3000 handle, seen at 1.3060 at the moment.
USD/CHF has also broken down to its lowest levels since January 2015, falling another 0.5% to 0.8630, while the antipodeans are pushing forward with strong gains amid the better risk mood as well. AUD/USD is up 1% to 0.6860 on the day, keeping in the hunt of its June high near 0.6900 next.
Treasury yields continue to fall further and that is helping with general equities sentiment, which is also bolstered by tech stocks after Elon Musk unveiled a new AI company to rival OpenAI’s ChatGPT.