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Dollar slips to fresh session lows as EUR/USD and GBP/USD lift into US stock market opening
The dollar has now lost more ground. As expected and conveyed here earlier, the Pound has made further progress after rising above 1.2710. The move higher in the GBP/USD has now extended very close to 1.2740. At the same time the EUR/USD has now managed to rise above its 50 day moving average and that may have tripped some stops above 1.0779. The EUR/USD is now trading around 1.0786. The move lower in the US dollar comes just ahead of the latest ISM services index and that will in all likelihood need to beat forecasts, or else the dollar could come under further pressure. That data is due out shortly, at 2pm GMT
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