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Dollar maintains higher supply in European morning trading | Breaking News Updates

Dollar maintains higher supply in European morning trading

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Dollar Holds Daily High, Gradually Extending Gains

EUR / USD is marked down more than 0.5% at 1.1545, staying near the major option expiries at 1.1525-50. This should probably keep the price action in check before it rolls out later today with the October lows @ 1.1525-29 in focus. Invest in yourself. See our forex education center.

Meanwhile, the pound also looks soggy with a cable down 0.5% to 1.3617:

Sellers are keeping short term control on a pullback below its 100 hour moving average (red line) earlier today with minor support seen @ 1.3600-05 thereafter.

The BOE is a key target later, but overall the risks could be skewed towards a disappointment for the pound anyway:

While a rate hike may give the counterpart a boost in the immediate reaction, I fear it will only be brief, as policymakers are likely to reiterate a limited and gradual approach for further tightening.

On the flip side, if the BOE doesn’t offer a rate hike, I can see it upsets the pound, so the risks are skewed either towards the disappearance of the initial peak for the pound, or towards a slight sell off. thereafter, as bets on the rate hike are pushed to December / February.

Elsewhere, AUD / USD is down 0.3% to 0.7420 on the day’s low while NZD / USD is also trading nearly 0.5% at 0.7123 and erasing its lead respective post-FOMC.

Dollar maintains higher supply in European morning trading

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Eleon Lass

Eleanor - 28 years I have 5 years experience in journalism, and I care about news, celebrity news, technical news, as well as fashion, and was published in many international electronic magazines, and I live in Paris - France, and you can write to me: eleanor@newsportal365.com

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