The US dollar index has a positive bias, building on yesterday’s gains. Despite this strength, the dollar and other currencies have failed to match the powerful rally seen on US markets yesterday as the S&P 500 staged one if its biggest single day gains in a decade.
The EUR/USD is on the rise after losses yesterday, with the GBP/USD following suit. The EUR/GBP is rising after a big pre-Christmas drop.
By contrast, the AUD/USD is falling heavily today, testing the support line below 0.7050, reversing all of yesterday’s gains.
The dollar is falling against the Swiss franc after rallying hard yesterday. The USD/CHF remains stuck in a range.
The USD/CAD is testing the highs once again though, with the 1.3600 level being breached once again.
The dollar is falling back against the yen as are most currencies. The USD/JPY is reversing half of yesterday’s gains. Meanwhile, the EUR/JPY and GBP/JPY are also on the back foot. The AUD/JPY is suffering the worse falls though.
Today we have US CB Consumer Confidence at 15.00.
The AUD/USD is under pressure and this morning’s weakness is proving no exception to recent trends.