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4 Mar 2015
Session Recap: USD stronger, EUR in fresh lows
FXStreet (Edinburgh) - The US dollar is resuming its upside in the middle of the week, relegating its main competitors to lower levels.
Against the common currency, the dollar tested the 1.1115/10 band - levels last traded in 2003 – helped by Services PMIs below expectations in Euroland during the last month. In the meantime, while GBP/USD remains subdued in the lower 1.5300s, the critical area around 120.00 vs. the Japanese yen still remains elusive, apparently waiting for a stronger catalyst. A better sentiment in the US treasuries today is also acting as a strong support for the dollar, with 10-year yields trading above 2.1% so far.
Ahead in the session, the USD dynamics will keep dictating the price action today, as the ADP report, ISM Non Manufacturing and the Fed’s Beige Book will take centre stage across the pond.
Against the common currency, the dollar tested the 1.1115/10 band - levels last traded in 2003 – helped by Services PMIs below expectations in Euroland during the last month. In the meantime, while GBP/USD remains subdued in the lower 1.5300s, the critical area around 120.00 vs. the Japanese yen still remains elusive, apparently waiting for a stronger catalyst. A better sentiment in the US treasuries today is also acting as a strong support for the dollar, with 10-year yields trading above 2.1% so far.
Ahead in the session, the USD dynamics will keep dictating the price action today, as the ADP report, ISM Non Manufacturing and the Fed’s Beige Book will take centre stage across the pond.