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  • Writer's pictureMike Paterson

US Dollar still in the driving seat

Friday 13 July 2018

It's Friday the 13th but the greenback is fearing nothing right now in its current role as best of a bad bunch again.

GBPUSD has broken down through the 1.3180 and 1.3150 support areas and now trading at 9-day lows as I type.Immediate support/buying interest now at 1.3100 then 1.3075-80 and 1.3050-60.Sellers poised now into 1.3150 then around 1.3180 and 1.3200. Keep selling the rallies with Brexit and UK government turmoil never far from the headlines, plus now we have fresh US trade concerns as Trump trashes May's latest Brexit blueprint.

EURGBP remains underpinned on the general Pound weakness with buyers still lining up between 0.8820-30, 0.8800 and 0.8785.Sellers now into 0.8880 then 0.8900

EURUSD has fallen to look at 1.1600. Buyers lined up there then larger into 1.1580 and 1.1550. Sellers initially around 1.1650 then 1.1680 and 1.1700

USDJPY continues its rally but has capped so far at 112.80 ahead of large barrier option contract interest at 113.00.Buyers now around 112.50 then 112.30 and 112.00. Sellers around 112.80 still then 113.00, 113.20 and 113.50 where another barrier option lays in wait. USDCHF has rallied too and is now above 1.0000 for the first time in a while but capped again by more sellers on EURCHF around 1.1700.

AUDUSD still has bids/support around 0.7350 then 0.7320 and 0.7300 still where large barrier option interest lurks. Sellers around 0.7400 then 0.7420 again and 0.7450. USDCAD remains underpinned but running into sellers at 1.3200. More around 1.3230 then 1.3250 still with buyers still poised now between 1.3150-60

Fickle and fragile markets prevailing still so get your orders in to take full advantage of these moves.

Have a good week-end out there one and all.

Interbank Rate 09.15 BST GBPUSD   1.3118 EURUSD   1.1618 EURGBP   0.8856 GBPEUR   1.1291 USDJPY   112.74 USDCAD   1.3190 USDCHF   1.0036 GBPAUD   1.7778 GBPCAD   1.7301 GBPCHF   1.3164 GBPZAR   17.4874 GBPHKD   10.1735 EURHKD   9.0103

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