The dollar is running towards the brink again as the less dovish Fed pricing is switching back the other way again this week. EUR/USD is holding above 1.1000 and looking to seal a weekly break above the key level and GBP/USD is starting to take a look at 1.2500 again.
Those are two notable ones to watch, similar to how it was two weeks back, but also do keep an eye on the Japanese yen as Treasury yields are looking heavy. USD/JPY is failing to get past 135.00 but we are seeing EUR/JPY challenge the October high of 148.40 while AUD/JPY continues to hold below 90.00 after a rejection from its 100-day moving average.
Meanwhile, oil is seeing a bit of a ping pong price action after the upside was declined at the 200-day moving average. Price is now seeing a bit of a bounce at the 100-day moving average, with WTI crude now seen at $78.50.
The key risk events here will be ones to watch for the week but until we get to big data on Friday, we might have to settle for focusing on the technicals as noted above and the bond market for now.
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