Forex today: markets firmer on US Senate

Ross J Burland FXStreet

Forex today was dominated by firmer markets on the back of positive sentiment coming from the US Senate that released its version of a healthcare plan and the market warming to the potential for movement on other fiscal agenda items.

The dollar was basing above the 97.50 mark although US 10-year yields were in the red by -0.81% at 2.1459 between a range of 2.1372-2.1633% making for a flat European US yield curve with European yields flatter again also. Today, the Fed rate hike for rest of the year was priced at 50/50.

EUR /USD was lower from the highs of 1.1177 to 1.1139 the low while the German yield curve new hit new YTD lows. Cable volatility took a breather today with the price stuck in a tight range between 1.2654 and 1.2691. USDJPY was a buy on dips from 110.95 to 111.46 the high. USD/CAD moved down to trend line support with positive retail sales and new that Buffett bailed out the troubled mortgage lender Home Capital Group. AUD and the Kiwi were mixed although the bird has the edge increasing its gains to 1.0372.

Day ahead holds Nikkei Manufacturing PMI (Jun), preliminar.

Key notes from US session

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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