Forex news from the European trading session – 2 June 2021
- USD leads, CHF lags on the day
- European equities higher; S&P 500 futures up 0.1%
- US 10-year yields down 0.9 bps to 1.598%
- Gold flat at $1,900.80
- WTI up 1.0% to $68.40
- Bitcoin up 2.7% to $37,325
It was a quiet session in terms of key headlines but the dollar was active as it caught a bid early on and stuck with gains throughout the morning in Europe.
That despite more muted risk sentiment and little signals from the bond market.
EUR/USD eased from 1.2210 to 1.2165 while GBP/USD retreated from 1.4150 to 1.4110 before bouncing back to keep near unchanged levels currently. AUD/USD saw a slight drop from 0.7740 to 0.7715 but is now sticking closer to around 0.7730 levels.
The dollar gains while modest isn’t really doing much from a technical perspective though, as price action continues to keep within range in the past two weeks.
Elsewhere, oil gained and is staying in search of a breakout above $68, so that will be one to watch out for later in the day and this week as well.