- The US Dollar has traded up to fresh seven-week highs this morning, extending gains that started to show last week. As we move into a week that brings rate decisions out of both the European Central Bank and the Bank of Japan, the Greenback is threatening a deeper bullish move as the backdrop may be a bit more open for dovish tilts at both the ECB and BoJ.
- USD/JPY has broken-out to fresh two-month highs, and EUR/USD is testing a key area of confluent support as we open into this week. We look at both setups below, while also taking a look at NZD/USD and GBP/USD after each put in interesting moves last week.
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US Dollar Rallies Up to Seven-Week Highs Ahead of ECB, BoJ
The US Dollar is higher on the morning, extending gains from last week after strength began to show on Tuesday morning and continued through the Friday close. As we open a fresh week, DXY is trading above a trend-line that’s held the highs for over a year, begging the question of whether we’ll see a