The euro has encountered numerous challenges but the recent dollar selloff extends the relief rally seen in EUR/USD. EUR/GBP vulnerable to further decline ahead of UK GDP
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.17% 🇬🇧GBP: 0.05...
EUR/USD has strung together five straight trading sessions of gains as the dollar selloff continues. The first indication came via an upside breakout with price action now testing the 38.2% Fibonacci retracement of the major 2021 to 2022 move. The ECB is due to meet at the end of this month with market expectations seeing no further rate hikes and pricing in a firstin June/July next year. 1.0700 appears as the next major level needing to be conquered to entertain an extension of the move and possible reversal. However, the dollar may soon swing back into favour with its safe haven appeal amid the ongoing conflict in the Middle East.
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