February 3, 2023

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Dollar a touch on the softer side for now

1 min read

Dollar keeps mildly lower across the board to start the session

EUR/USD is trading near session highs at 1.2240 as buyers start to look back towards the May highs near 1.2266 in hopes for a stronger breakout:


Adding to that is GBP/USD also keeping close to the 24 February high @ 1.4241 following the daily close above the 1.4200 level yesterday:


Elsewhere, AUD/USD is back up to 0.7760 from 0.7740 following the RBA decision earlier while USD/CAD is also seen slipping to 1.2035 from 1.2050-60 levels earlier in the day.

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The technicals are what is important here in my view and the ones in EUR/USD and GBP/USD are worth taking note in case it exacerbates the dollar’s vulnerability after the decline seen yesterday to start the week.

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