December 7, 2022

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Dollar slightly firmer to start the day as the back and forth continues

1 min read

The greenback recovers some ground from yesterday

The market is still very much lacking any firm conviction with the dollar once again trading slightly higher in Europe – similar to yesterday.

There are still lingering tones from the payrolls on Friday but that is also slowly being faded out as the market tries to digest what comes next for the greenback and overall sentiment in general; though unlikely to get much answers until the Fed.

Cable is back down by 0.3% to 1.4130 levels as price action continues to sit mostly between 1.4100 to 1.4200 in recent weeks:

GBP/USD H1 08-06

The hourly chart pretty much exemplifies the choppiness in FX as of late.

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