Dollar slips against major currencies, except against the yen
The greenback is mostly lower now as it slumps to fresh lows on the day against the euro, pound, franc, loonie, and kiwi currently. The yen is also marked lower as risk sentiment is still leaning towards the positive side ahead of North American trading.
S&P 500 futures are up 0.4% while European indices are trading up by around 0.5% to 0.9%, maintaining a solid form since the opening stages today.
Going back to FX, EUR/USD is up to 1.1624 and contesting its 200-hour moving average:
As mentioned earlier, there are large expiries on the week around 1.1600 that could keep price action more sticky so keep that in mind when digesting the moves ahead of the ECB.
Besides that, cable is also running up to 1.3820 levels with buyers pushing back above key near-term levels to establish a more bullish bias above 1.3800 for now.
There are also headlines to consider as UK inflation expectations for the next 12 months pushes up to 4.4% – its highest since 2008. Although, medium-term inflation expectations (next 5-10 years) dipped slightly from 3.8% to 3.7%.
Elsewhere, USD/CAD is marked lower from 1.2380 to 1.2353 currently but the broader price action is still hovering in between 1.2300 and 1.2400 for now.
AUD/USD is keeping a light advance around 0.7500-10 while NZD/USD has pushed up from 0.7160 earlier to 0.7180 amid the softer dollar sentiment.