US dollar finally gets a bid. EUR/USD hits session low

Author: Adam Button | Category: News

EUR/USD down 40 pips in the past hour

Some US dollar buying has kicked in as European trading begins to wind down. It's a three-day weekend in the United States so watch out for flow-driven trade for the remainder of the day, and especially into the London fix.

The calendar is light today but Trump is speaking later and that's always a risk.

Technically, the dip below the earlier lows highlights 1.0624 and 1.0600, which has been a key battleground for the past two weeks.

Another driver could be stocks. It's been tough to keep the S&P 500 down. That hasn't translated into US dollar gains over the past week but if the climb continues, it's inevitable.