February 1, 2023

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Dollar keeps more mixed so far on the session

1 min read

Dollar trails slightly behind the euro, pound but gains against the yen, loonie

It has been a relatively quiet start to May proceedings as holidays in Japan, China, and now UK are keeping the market more tepid so far today.

Major currencies are mostly little changed in general, though the yen is the notable laggard as USD/JPY hovers near the highs for the day at 109.68 currently.

I elaborated a bit more on the technicals for the pair in an earlier post here.

Besides that, USD/CAD is a little higher at 1.2300-10 but the rest of the major currencies bloc are keeping in narrower ranges. EUR/USD is hovering around 1.2030 levels now but is holding within a 29 pips range (1.2013-42) in trading today.

US futures are keeping higher (S&P 500 futures up 0.5%) so keep that in mind in case there is more of a risk-on push later when Wall Street starts to enter the fray.

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