USD/JPY could be at highs for the day at 156.85 but the dollar is lower against the rest of the major currencies at the moment. The greenback is down about 0.3% to 0.4% across the board, so the losses elsewhere are nothing too significant compared to the gains captured during yesterday's post-Fed response.
EUR/USD daily chart
As for EUR/USD, the pair is up 0.4% to near 1.0400 but is holding slightly below the figure level for now with a large option ending as mentioned. here. That may help keep things under control before we get to the first weekly US jobless claims later.
Additionally, GBP/USD is also up 0.4% to 1.2620 and USD/CAD is down 0.3% to 1.4403 currently. The latter continues to see a meaningful breakout as it climbs to the highest levels since March 2020 yesterday. On the monthly chart there, a strong break above 1.4100 will mark an important step in trying to push to test the main resistance around 1.4500 through to 1.4600 levels next.
Elsewhere, AUD/USD is also seen up 0.3% to 0.6238 now after running into a test of the 0.6200 level:
AUD/USD weekly chart
That is a key level on the weekly chart as shown above, after they stopped the downward trend back in October 2022. That said, the pair is still down 4% this month with sellers in good control amid the light rush on the day.
So far, it's just a soft reversal of yesterday's trends and we're seeing a similar sentiment playing out in broader markets as well.
S&P 500 futures are up 0.4% while gold is up 1.1% to $2,616 today. In the bond market, the 2-year Treasury yield is down 2.6 bps to 4.33% but the 10-year Treasury yield is holding steady at 4.52%.
