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  • Writer's pictureMike Paterson

US Dollar generally softer as 2018 draws to a close

Monday 31 December 2018

Equity markets and oil prices have seen some level of recovery but as we say goodbye to 2018 risk sentiment still remains wobbly and the jury undecided on future US$ direction.

GBPUSD has broken back up through 1.2680-00 to post 1.2747 before sellers prevailed agaim.I remain GBP bearish overall and happy to jump on rallies then buy back in the dips.EURGBP has fallen back to 0.8974 (GBPEUR up to 1.1145) with the month-end Euro demand now seemingly done given the holiday period still continuing.

EURUSD has held some of its recent gains on the general USD supply but failing above 1.1450 atm while USDJPY continues to fall on the general US$ supply to test the larger 110.00 support lines with Yen demand still notable.

USDCHF also remains undermined but still finding some degree of support from EURCHF dip demand this time below 1.1250 with the SNB seemingly ever-watchful. AUDUSD has gathered a little poise on the US$ supply and slightly better commodity price/risk sentiment but remains fragile.USDCAD remains underpinned but fallen back a little helped by the oil price bounce from its recent lows.

Fickle Forex markets ever prevailing so be ready with your entry/exit levels and don't get greedy.Remember liquidity is thin at the moment and moves can be volatile.

The mighty Shrimpers of Southend United failed to come back from Coventry with any points in a disappointing display albeit with a late flourish but they get the chance to redeem themselves back at the hallowed Hall tomorrow.

Next update will be on Wednesday so I'll wish you Happy New Year greetings and hope that 2019 brings you good things. Thank-you for your business in 2018 and I look forward to being of continuing assistance.

Interbank Rate 08.48 GMT GBPUSD   1.2734 EURUSD   1.1440 EURGBP   0.8980 GBPEUR   1.1135 GBPAUD   1.8030 GBPCAD   1.7337 USDJPY   110.11 EURJPY   125.97 AUDUSD   0.7070 EURCHF   1.1274 USDCAD   1.3613 USDCHF   0.9855 GBPHKD   9.8734 EURHKD   8.8667

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