EUR/USD and GBP/USD make gains against the dollar while USD/JPY moves higher
The euro and sterling make gains against the dollar, while the dollar is also on the up against the yen.
EUR/USD back at recent highs
EUR/USD rallied from the lows of the past two days, and has made further gains in early trading today.
A close above $1.096 marks a new bullish move and puts the price on course to target $1.10. Sellers will need a close back below $1.09 to suggest some more weakness after Friday’s surge.
GBP/USD tries to form a low
After being knocked back from its gains yesterday, the price has moved higher.
However, while a higher low is still a possibility here, it will need more than one day of gains. GBP/USD has been unable to manage this over the past month, with intraday bounces failing to carry over into the new session. Until this changes, the sellers remain in control.
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