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USD Breaks Resistance
The US dollar has been firmer over the last 24 hours with the USD index breaking above the 97.42 level yesterday. For now, momentum has stalled and price is sitting just above this level. The absence of any key US data this week means that moves have been light. However, USD sentiment is generally positive and further upside looks likely.
Euro Lower Following ECB
EURUSD has been firmly lower today. The ECB launched its strategy review at yesterday’s policy meeting though warned markets that while the review is underway, its monetary policy approach will not be on auto-pilot. EURUSD has broken through the 1.1072 level now and is trading 1.1049 last.
GBP Down Despite Better Data
GBPUSD reversed sharply from initial highs on the session above the 1.3150 level to trade 1.3119 last. The UK manufacturing PMI released today was seen rising to a nine-month high, though still below the 50-lev...
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