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EUR/USD has 1.10 on the radar now

The further gains in the EUR/USD yesterday afternoon saw it later rise just above 1.0950 ahead of the US close, where it ended that session at 1.0948. That rise to its best levels since early January came as the dollar fell out of favour, but in truth it was entirely led by the USD/JPY sliding earlier in the day. So, as the EUR/JPY later recovered sharply from levels near 160.50, to above 162 by time of the 4pm London fix, that helped the EUR/USD to rise too. Of course the Dovish tones from the Fed boss really helped that move. However, there is one potential fly in the ointment for the Euro later today and that is the US monthly jobs report. That could make or break this current rally. In truth it is often the case; that the hype ahead of this jobs report does belie the reality, but on this occasion, I do not think that is the case. The EUR/USD has held a tight range so far today and hence it is probably for that very reason. The range so far has been set at 1.0942 to 1.0956. There will be more to add on this before and after that US jobs report hits the screens. The EUR/USD is right now trading at 1.0944

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