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Dollar still fighting back as the 4pm London Fix approaches- check out the EUR/USD now
Adding to earlier updates here, noting the rebound in the US dollar, that recovery has extended further and it covers all the major pairs. The GBP/USD has now handed back more ground, as it drops below 1.2670 and the EUR/USD is grinding steadily lower towards 1.0850. The USD/JPY is now closer to the highs it reached yesterday, currently trading at 151.60. So, the dollar bears are falling on the sword this afternoon. It was mentioned here earlier; that the dollar seemed to get rather unfairly treated last night and now it is getting back onto a more even keel. Obviously, as far as the EUR/USD is concerned it is that 1.0840 level that remains crucial. It the Euro gives up on that today ahead of the US close, it is likely to see some longs throw the towel into the ring. The EUR/USD is right now trading at 1.0862
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