The USD is sharply lower overnight as the majors continue to power higher; Yen crosses correcting lower but not until EURO/JPY has made a new lifetime high in Asia.
Scoring another lifetime high, EURO/JPY took the spotlight and GBP/JPY followed suit as well.
The greenback is lower again today against the majors for the most part and even the stubborn USD/JPY had a lower close.
The USD followed-through to the downside overnight losing ground against the GBP before finding support ahead of the New York open.
Both GBP and EURO are poised to advance into new territory for 2007 and aggressive traders can ADD to open longs on a small pullback.
The greenback is marginally firmer after today’s trade but traders note that volumes remained thin post-holiday.
The USD is mixed to firmer in New York this morning as a degree of follow-through buying was seen overnight from Friday’s strong payrolls data.
As expected the USD is very quiet ahead of the NFP number this morning in pre-holiday trade.
The USD is mixed-to-firm after a slow start in Asia, lack of fundamental news until late European trade kept the USD fairly range bound again.
As expected, the BOE MPC held rates unchanged today after analysts were placing about a 50/50 chance for a “surprise” rate hike.
Major news overnight was the RBA leaving interest rates on hold. The failure to raise rates was initially seen as a bit bearish for the Majors but traders are watching more news coming later n the week so the reaction was more of a knee-jerk.
Wrapping up today’s USD action, the Greenback continued inside two-way ranges established earlier in the week for the most part.