EUR/USD hits fresh European session lows after failing to react to weaker US ISM

As noted here just after the release of the US ISM report, the dollar did drop back. The USD/JPY tested the 161 handle and the EUR/USD lifted close to 1.0770. However, as already reported, the USD/JPY soon recovered and that has now seen a move too fresh multi-decade highs just now. The USD/JPY has lifted above 161.55. This in turn stymied the EUR/USD and ensured it could not test that 50 day moving average again (still in place at 1.0777). The Euro has now fallen back to fresh European session lows underneath 1.0740. The reader is reminded; that much earlier today during the Asian session, the EUR/USD traded to a low at 1.0711, before the French news helped it to rebound. The more the session develops, the more it seems the presumption that other parties will be able to stop Le Pen winning power was nothing more than that- a presumption and nothing based in reality at this stage. So, despite the crummy ISM data, the dollar is on the front foot again now. The EUR/USD is currently trading at 1.0739