December 9, 2022

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Dollar sees light gains pared, back to little changed

1 min read

Major currencies go back to the drawing board on the day

That didn’t take long but the dollar has seen its early gains, which weren’t anything significant to begin with, pared in European morning trade.

This still points to more of a push and pull and some indecision on the day with Jackson Hole still being the main focus in the market later on in the week.

That said, cable is contesting its 200-hour moving average (which has been limiting gains over the past few weeks) at 1.3739 currently:

GBP/USD H1 25-08

Elsewhere, the dollar is keeping little changed across the board again but is maintaining gains against the Japanese yen at least.

FX

Risk is keeping in a better spot as US futures are keeping slightly higher. S&P 500 futures and Dow futures are up 0.1% while Nasdaq futures are up 0.2%.

Meanwhile, 10-year Treasury yields are also up 1 bps to 1.30%.

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