Dollar recovers some poise after Friday drop | Forexlive
The dollar is holding higher across the board today as a rebound in bond yields is also helping. 10-year Treasury yields are up 5 bps to 4.116% and that is helping to prop up the greenback as well. Of note, EUR/USD is down 0.4% to 1.0966 at the lows for the day:
EUR/USD daily chart
The pair threatened a rebound back above 1.1000 only to fall back now as sellers are starting to seize back near-term control. Euro sentiment isn’t the best at the moment amid worsening economic data and a looming ECB policy pivot. Meanwhile, it seems like traders have figured out the Fed outlook and we’ll see if the US CPI data this week will further validate that.
For EUR/USD, the 100-day moving average (red line) is the key technical spot to watch and that sits at 1.0921 currently.
USD/JPY is also seen up 0.4% now to 142.40 as buyers look to hold a rebound back above the 142.00 mark while USD/CHF is hoping to move towards testing the 0.8800 mark once again, up 0.5% to 0.8770 currently.