Today's Asia session saw the Greenback regain some ground after yesterday's nasty selloff. With no top tier data or news events to propel the market, traders looked to take some profits on recent gains. EURUSD broke back through the 1.40 level once again to deal nearly 40+ pips lower. USDJPY rocketed to the upside, up nearly 100+ pips from NY lows. Despite an early Asia selloff and a weaker EURUSD, EURJPY managed to recoup some losses into the end of the session dealing convincingly back above 133.00.
Ahead in the upcoming London session no top tier data is expected. Instead traders will focus on if the USD can hang onto its Asia gains. Is the rally for real? Or will another leg down be in the cards for the dollar?
