Dollar gains some ground as risk stays more tentative to start the session

Dollar firms a little on US futures retreat

The greenback is pushing slight gains across the board now with EUR/USD falling to a low of 1.1890 from around 1.1910 earlier – fresh lows since the end of November.Invest in yourself. See our forex education hub.

EUR/USD D1 08-03

The pair is now closing in on a test of the 61.8 retracement level @ 1.1888 with sellers keeping a keen eye on the 200-day moving average (blue line) @ 1.1825.

Elsewhere,  the dollar is holding higher against the yen at 108.45 and cable has also slumped from 1.3835 to 1.3810 currently. The aussie has also pared gains against the greenback in a fall from 0.7710 to 0.7681, marking the lows for the day at the moment.

This comes as we see US futures stay on the retreat since the opening levels today amid the selloff in tech as Nasdaq futures remain down by a little over 1%.

Also, just be mindful of Treasuries as yields are keeping higher today but still just below 1.60%, after having seen the post-non-farm payrolls spike be short-lived on Friday.


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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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