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In fact, given very strong US data at the end of last week, almost anything positive from the US data window this morning is likely to shore up respect for the 85.00 consolidation support zone.
For today’s trading session maintain both option positions in the Dollar and Canadian Dollar.
The dollar was set to close at its highest level in four years against major counterparts following the raise by the Federal Reserve officials of their target-rate forecast.
The New Zealand dollar dropped slightly against the world’s reserve currency on Friday in advance of the U.S. Labor Department’s release of jobs data, The Wall Street Journal reports.
The Australian dollar rose against most of its top counterparts on Monday as the South Pacific nation prepared to release strong trade deficit and retail sales data later this week, according to Bloomberg. Expectations are high that the nation’s data is likely to be healthy.
The Australian dollar drove to its top value in one week against the world’s reserve currency as speculation mounted that its poor performance recently has been overdone, Bloomberg reports.
The Australian dollar was sinking toward its three-year low on Monday against the U.S. dollar as conjecture grew regarding whether the central bank of the U.S. will cut borrowing costs, Bloomberg reports.
The Australian dollar on Thursday dove toward its lowest value in three years against the world’s reserve currency following activity by the central banks of the South Pacific nation and the globe’s largest economy, Bloomberg reports.
The Japanese yen on Monday plunged 0.2 percent minimum against each of its top 16 counterpart currencies on Monday as global stocks were showing strength, tampering demand for haven assets, Bloomberg reports.