Talking Point:
- While both the US Dollar and EUR/USD[1] remain mired in multi-month ranges, GBP/USD[2] has posted a continuation of the bullish breakout from earlier in April. Prices continue to trend-higher, and are now nearing the 2018 high at 1.4346. UK inflation is on deck for Wednesday, and this is the last inflation print that we’ll see before the Bank of England’s ‘Super Thursday’ rate decision in May. - Yen-weakness has continued to show as the currency continues to give-back strength from February and March. This could make the Yen as an interesting counter-party for bullish trends in the Euro[3] or British Pound[4]. We looked at the topside of GBP/JPY last week[5], and this morning we take another look at bullish continuation potential in EUR/JPY[6]. - DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page[7]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[8]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[9]. Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[10]. US Dollar Kicks Off the Week by Running Back to Support Last week saw near-term Dollar weakness continue after the disappointing NFP report from the Friday before[11]. DXY[12] made a late-week attempt to re-test the 90.00 level, but even that fell flat as sellers came in ahead of that potential resistance. As we
