The euro remains in control on fresh hopes that monetary stimulus may be coming to an end. The euro spurted much higher yesterday, with the EUR/GBP jumping higher before retreating to small gains. There are further small gains this morning. The EUR/USD is also continuing to make small but steady gains as the US dollar continues to back off. The EUR/JPY is struggling after selling yesterday though.
Markets are generally quiet this morning, with no economic releases with potential global impact. The US dollar index is slipping back after small gains yesterday. The AUD/USD is extending yesterday’s losses, while the GBP/USD is unchanged for the second straight day.
The USD/JPY sold off yesterday, continuing to reverse the recent mini rally. The AUD/JPY continues to retreat, while the GBP/JPY holds relatively firm.
Today we have G7 meetings running all day.
The only economic item of note is Canadian employment and unemployment data at 13.30.
The USD/CHF continues to drop as the Swiss franc takes in buyers at the expense of the weaker dollar. The late April rally looks a relevant target to repeal, with a ONE TOUCH trade a good way to play this.