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EUR/USD edges back above technical level as dollar weakens on stock rebound
The US stock markets are all paring back early losses on the opening this afternoon, That has seen the dollar drop back at the same time. However, it is versus Europe where the gains are most notable, because the Yen has remained weak and unchanged versus the US currency. So, now the EUR/USD has just lifted back above the 200 day moving average that it closed below on Friday. The upshot of that is the EUR/JPY has risen notably. So, has the GBP/JPY too, as the GBP/USD also gains further. The EUR/USD is currently just below that 1.0939 level, after rising a moment ago to 1.0842. It is currently trading at 1.0837
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