EUR/USD edging higher this morning

Yesterday evening the EUR/USD continued to fall back and that saw it hit a fresh interim low at 1.0811 ahead of the US close. That was its lowest level since March this year. The Euro later closed in the US at 1.0815. It has held a range so far today covered by 1.0813 to 1.0827 and it is towards the upper end of that range right now, ahead of the European stock market opening shortly. The fact that the Euro is edging higher despite the further gains in US yields would seem to rest with similar gains in yields across Europe this morning too. However, the noted failure to rise the 200 day moving average during the Asian session yesterday was expected here and all the while that remains the case, the risk of a break below the 1.0800 handle could remain live, as is the outlook for the ECB to continue to out-cut the Fed on interest rates. That prospect remains a significant headwind going forward, but at the same time we should not forget the looming US election potential to upset the dollar in some shape or form. The EUR/USD is currently trading at 1.0826