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EUR/USD still not able to set a daily close above 1.08

Yesterday after the European close, when the USD/JPY crumbled to a low at 141.71, the EUR/USD did manage to rise back above 1.08. However, as you can see, it took a huge move lower in the USD/JPY to deliver that. This is because the EUR/JPY got hammered too, falling to a low at one stage of 153.23. Incidentally that low was more than 1000 points below its previous 2023 highs above 164, reached not that long ago. So, the slide in the USD/JPY afforded the EUR/USD to reach a high at 1.0818 after the European close, but as you can see, with the USD/JPY reclaiming the 144 handle this morning, that has put paid to that EUR/USD rebound and now the Euro is dropping back towards 1.0775. It could not even manage a close above 1.08 last night either, ending the US session at 1.0794. This is of course all about the EUR/JPY, Hence, the EUR/USD remains for the most part the wash-through pair for that cross. Perhaps that will change later today, when the US jobs report hits the screens, but most likely not until then. The EUR/USD is currently trading at 1.0778

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