Dollar not up to too much so far on the day | Forexlive

The dollar is keeping little changed for the most part, only notably seen down against the yen so far today. EUR/USD is flat at 1.1723 with GBP/USD down just 0.1% to 1.3695 while AUD/USD is also marginally higher at 0.6535 currently. It is only USD/JPY that saw a bit of a dip earlier to 143.77 before recovering back to 144.11 currently – down 0.4% on the day.

There is some minor support from last week’s lows with upside also more limited closer to the 100-hour moving average (red line) at 144.72 for the time being.

Circling back to other dollar pairs, EUR/USD is caught between large option expiries as buyers continue to try and hold their conviction in the push above 1.1700. Meanwhile, AUD/USD is still looking to shake off the key resistance region around 0.6537-50 for the most part.

As much as the dollar looks weak again amid Trump’s policy incoherence and loss of status confidence (resuming back the previous trend), we have to ride out the month-end fix and any related flows before reaffirming the trend here.

So, we’ll have to see how the flows later impact the technicals and then use that as the canvas in painting the picture to start July trading. And it won’t be long before we get a dose of data volatility to add to the mix too, with the US jobs report coming up on Thursday.

Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.