USD/JPY hits new three-month high, while both EUR/USD and GBP/USD struggle against the US dollar
The dollar is rampant once more, surging to a three-month high against the yen and causing more declines for EUR/USD and GBP/USD.
EUR/USD slump goes on
EUR/USD continues to decline, falling sharply on Monday and seeing further losses on Tuesday. The August low at $1.0780 is now firmly in sight. Below this lie the summer lows at $1.0670 and then April’s $1.06 low.
A revival back above $1.0850 might suggest that a short-term low has been formed.
GBP/USD volatile around recent lows
Fresh losses on Monday took GBP/USD lower, and then Tuesday saw it briefly test the 100-day simple moving average (SMA) for the first time since early August.
It has managed to push higher in early trading however, reviving hopes of a low being formed. It has fallen below the September low around $1.30, reinforcing the bearish view.
USD/JPY surges once more
The dollar’s recovery against the yen continues, and overnight trading has taken USD/JPY above ¥152.00, above the 200-day SMA and to its highest level since 31 July.
The rally appears to have entered a new phase, and the ¥154.00 area now comes into view. Sellers would need a close back below the 200-day SMA and then below ¥150.00 to suggest a peak has been reached for now.
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