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EUR/USD touches a high of 1.1656 on the day
There’s no headlines that I can see to have caused a sudden weakness in the yen and the dollar simultaneously. GBP/USD also touches a high of 1.3097 while AUD/USD and NZD/USD climbs to session highs of 0.7173 and 0.6565 respectively as well.
There’s a bit of a spike in E-minis as well so it appears to be more of a risk-related move more than anything else but again it’s not really assisted from any headlines that I can see.
European equities are also paring earlier losses on the day with only the DAX now trading in the red. Other indices have turned the corner so there’s a bit of a shift in risk sentiment and that’s helping with flows out of the dollar and the yen.
As for EUR/USD, price has moved higher after testing the 200-hour MA (blue line) earlier and now trades back above the 100-hour MA (red line) @ 1.1634. That means near-term price bias is more bullish.