A familiar start to European morning trade
1 min readWe’ve seen this story before
Dollar a touch weaker. Treasury yields slightly softer. Equities in a bouncy mood. It all reads to a similar script as yesterday but will the ending today be different?
As much as month-end and quarter-end flows are obscuring the picture over the past few sessions, it is hard to argue against the charts when it comes to the dollar now.
EUR/USD is on the brink of a further collapse as it contests key support near 1.1600 and a firm break below that is likely to set off another flurry of dollar bids:

Adding to that is USD/JPY hovering near key resistance at 112.00 and GBP/USD also in a bit of a freefall potentially towards 1.3200, giving dollar bulls more impetus as we navigate through the week.