US dollar is gaining against all major currency except the Japanese Yen.
The EUR/USD pair is currently trading at 1.1161, reflecting a slight decline of 0.25%, or 0.0028 points, from its previous level. The pair saw a retracement from the 2024 high reached last Friday. Recent change of expectations about the timing and the trend of the FED rate cuts fueled the recent weakness of the greenback. Similarly, the GBP/USD pair experienced a marginal decrease, standing at 1.3201, which is a 0.05% drop or 0.0007 points. The trading range for this pair included a high of 1.3222 and a low of 1.3180. Even GBP/USD made a 2024 high last Friday, which made also a double top with the 2023 high.
The USD/JPY pair, another major currency pair, showed a more significant drop of 0.31%, or 0.44 points, bringing it to 143.89. The day’s trading activity saw the pair fluctuate between a high of 144.36 and a low of 143.44. USD/JPY Stochastic oscillator looks oversold but uncertainty about the magnitude of the recent downtrend remain.
In the North American markets, the USD/CAD pair was observed at 1.3492, down by 0.11%, or 0.0014 points. The currency pair traded between 1.3515 as its high and 1.3490 as its low for the day.The USD/CHF pair remained relatively stable with a slight increase of 0.01%, or 0.0001 points, bringing the exchange rate to 0.8473. The day’s high was recorded at 0.8486, while the low touched 0.8456.
The AUD/USD pair recorded a minor decline, trading at 0.6776, down by 0.25% or 0.0017 points.In the case of the NZD/USD pair, there was a more noticeable decrease of 0.38%, or 0.0023 points, with the pair trading at 0.6207. The range for the day included a high of 0.6233 and a low of 0.6197.
