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Dollar gains prove short-lived- EUR/USD bounces back
Earlier this morning we noted how increased war risk had underpinned the dollar and how that had surely tripped stops below 1.1391 in the EUR/USD overnight. Well, it was already on the rebound when we last updated you and now it has forged higher still.
The EUR/USD has not long ago lifted to a new session high, at 1.1446 a short while ago. The dollar index has therefore fallen all the way back and well below the 101 handle now. We noted the high end of the range in the EUR/USD earlier this morning, at 1.1461. Well, that has not been put to the test yet. As to whether it will remains uncertain, but this relapse in the US currency has probably surprised a few players out there. The EUR/USD is right now at 1.1439
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