Latest Forex Update By Online Robotic Stock Traders

European morning wrap

A lively enough session as USD dominates

USD strength has been the theme of the session thus far, at least after the first three hours which saw little by way of significant price action.

But as US 10-year treasury yields started to edge higher and with traders buoyed by the o/n article by WSJ’s Fed watcher Hilsenrath we had one sharp move across the board which saw USDJPY climb to 104.73 from 104.48,  with USDCHF taking out offers at 0.9135 from 0.9108 and posting highs of 0.9144.
GBPUSD dropped to 1.6408 from 1.6440, EURUSD to 1.3523 from 1.3553 and AUDUSD to 0.8784 from 0.8813.

Since then we’ve had some good two-way business in some of the pairs with cable edging back up to 1.6452 before dropping again to 1.6425 on weaker CBI data but overall the greenback grab has prevailed and tight ranges have ensued.

USDCAD finally took out the 1.1000 barrier in a rush triggering stops to 1.1020 before retreating while NZDUSD fell on the USD demand to dip below 0.8300 from 0.8336, slightly denting the CPI-led rally in Asia.

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