EUR/USD dips as lingering US-China tensions bode well for the US dollar. Technical indicators suggest scope for a re-test of the lower end of the multi-week trading range. Deeper losses may remain elusive if the German IFO numbers beat estimates.
GBP/USD sellers catch a breather amid a lack of major catalysts on Spring Bank Holiday. UK PM Johnson gets criticized while favoring Adviser Dominic Cummings. US-China tussle intensifies with eyes on US President Trump’s reaction over the Hong Kong issue.
Gold, a safe-haven asset, is flashing red at press time even though the growth-linked currencies like the Aussie dollar are struggling to gain altitude. Technical charts indicate scope for deeper declines in the short-term.