The dollar index is staging a small rebound after yesterday’s hefty sell-off. Yesterday’s NAFTA announcement helped markets generally, but Trump’s devaluation rhetoric kept a lid on dollar advances.
The EUR/USD is slipping below the 1.1700 level after gapping higher yesterday. These gains are outpacing the GBP/USD which has lost most of yesterday’s advances and indeed most of last week’s. The EUR/GBP continues to advance, with 0.9100 the next likely target.
The AUD/USD continues to struggle, reversing all of yesterday’s gap higher as markets remain unimpressed with the political uncertainty.
The USD/CAD is higher after dropping below 1.3000 yesterday, while the USD/CHF is trading in a similar manner, testing the 0.9800 support level.
Yen pairs are mixed, with the GBP/JPY reversing slightly, while the EUR/ JPY is unchanged, continuing its winning streak. The USD/JPY is higher after two days of losses, while the AUD/JPY is reversing again.
Today we have CB Consumer Confidence at 15.00.
The pound continues to weaken, while the dollar index remains resilient against Trump’s devaluation rhetoric.