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Dollar continues to edge higher after the European close-EUR/USD drops back
As covered here in an earlier update, the slide in the USD/JPY today had allowed some flexibility for the EUR/USD, to rebound and that rebound saw it reach a session high at 1.0746 ahead of the 4pm London FX fix. Well, since then the US dollar has continued to recover versus the Yen and just now the USD/JPY lifted back to around 159.75 and that ensured the EUR/USD has drifted back down. The EUR/USD is right now trading back underneath 1.0725 and it will be very interesting, if the Euro was to fail to set a daily close above 1.07 this evening, given that it closed on Friday at 1.0693. There is still plenty of time to see it that materialises or not this evening.
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