The push and pull continues for the dollar this week with USD/JPY now inching back up to near 122.00 after having touched a low of 121.35 earlier in the session. Elsewhere, EUR/USD is also marked lower to 1.1123 as the greenback is seen advancing slightly across the board as well.
A drop back below the mid-March highs around 1.1121-37 would be a blow to buyers’ momentum in EUR/USD, although the key hourly moving averages are still seen far away @ 1.1033-53 for the time being.
There’s not much in terms of headlines to work with as we see flows continue to play out on the week. GBP/USD is down slightly to 1.3110 from around 1.3148 earlier while AUD/USD is down 0.5% to 0.7472 as buyers struggle to keep above 0.7500.
Just be mindful that today marks month-end and quarter-end trading as well, so things could be a fair bit more choppy.