FX Daily Wrap Up

The Greenback lost a bit a bit of steam today in otherwise light trading. Last Friday’s trading frenzy produced a roller coaster, with the Dollar ending up where it left off. Today the Euro gained about 30 pips in a slow and controlled manner. The EUR/USD pair found a modest bid in early morning trading hours for a 60-point run to 1.2920 before losing steam and retracing much of the move. Supporting the EUR/USD action, the USD/CHF made a move from its 1.2470 support, only to post a spike and high around 1.2530 before making a full reverse to retrace the move. Last but not least, a new four-year high in USDJPY was slowly forged as ever-attractive carry drew in bids to 121.80. XPRESSTRADE Analyst David Hilgeman.