Forex Morning Briefing
Commentary: Pressure on the Buck is up. PE
The US Dollar (.DXY) at 93.30 moved up after the benchmark US 10yr T-Note Year yield rose past 3% Monday. This was in response to US Retail Sales data.
Note: .DXY moved up from the 13-Day MA at 92.5 to a high near 93.46. It could see a dip to 93 over Tuesday and Wednesday. But, then target 94-95 by next week if the uptrend continues.
EUR (Euro) at 1.1828 fell, and is now testing the 55-Wks MA, and pause on the way to 1.187-1.188.
Note: If .DXY tests near 94-95 next week, the single currency could test to 1.15 or lower.
Sterling (GBP) at 1.3498 as USD’s strength pushed GBP below 1.35. There is support there, which could pause its downtrend near term.
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