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EUR/USD stalls ahead of 1.0960 for the time being

Earlier this morning, the drop in the dollar helped to push the EUR/USD close to its most recent highs. Last week the EUR/USD topped out at 1.0965. Earlier this morning it tried to test that level, but so far it has stalled just ahead of 1.0960. The high seen earlier was set at 1.0959 and since then it has been edging lower as US yields rise and the dollar versus Europe makes some limited progress. However, the drop back to just below 1.0940 is far from conclusive at this stage and could be just another intraday swing. The markets are still contemplating further dollar outflow potentially set for the month end and it is important to note; that tomorrow is spot month end too, with trades set then for settlement on Thursday 30th. The EUR/USD is currently trading at 1.0943
 

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