EUR/USD cuts below 1.0500
Euro falls to session low
The US dollar has some wind in its sails as New York trading ramps up. Trump could continue end the Cold War Part 2 while marching towards Trade War Part 1. That kind of protectionism is dollar positive, at least in the short term.
But there isn't a big macro driver today. It's the same ebb and flow that's put the market in a chop for the past two weeks.
The short-term technicals are negative with Monday's low breaking and the psychological 1.05 giving way.