February 8, 2023

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Dollar holds slightly softer on the session, US futures a touch higher

1 min read

Some slight moves in the market but nothing that stands out all too much

The dollar is a little softer in European morning trade but not really being pushed to the brink with EUR/USD testing waters just above its 100-day moving average @ 1.2052 but not really securing a firm breakout just yet.

USD/JPY remains tepid around 107.85-00 while GBP/USD holds a slight bounce to around 1.3870-90 but price remains trapped in between its key hourly moving averages.

USD/CAD has trimmed its earlier drop from 1.2470 to 1.2490 levels as the pair is still finding it tough to break through the daily support region at 1.2476-00.

Meanwhile, AUD/USD is holding a bounce off 0.7700 but upside is also more limited near its 100-hour moving average close to 0.7745 currently.

Elsewhere, US futures are holding a slight bounce of around 0.2% after yesterday’s declines but there still seems to be some sense of trepidation ahead of US trading.

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