EUR/USD, GBP/USD and USD/JPY in retreat as risk appetite falters
Pre-ECB nerves have hit risk assets across the board, leading to losses for EUR/USD, GBP/USD and USD/JPY.
EUR/USD drops back from $1.19
EUR/USD has firmly rolled over, retreating from $1.19.
This second failure to push on above $1.19 looks to have handed the initiative to the sellers, who will be looking for a resumption of the downward move towards $1.17. As yet the bulls do not appear to have the strength to halt further declines, but a recovery above $1.185 might stem further losses.
GBP/USD declines further
The pound is in retreat as well with GBP/USD, after it fell back from the highs for the month.
A bounce yesterday is being unwound, which puts the pair back on course to $1.36. Tuesday’s break of trendline support was the key development that has handed the initiative back to the sellers.
USD/JPY falters after recent gains
Hopes of more upside with USD/JPY have been capped for now with the move above ¥110.35 that was then knocked back yesterday.
The dollar has fallen back since then, although it remains in the upward channel of the past month, which may yet result in another move higher.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
