FX Breakout Monitor: EURUSD eyes breakdown
EURUSD has probed beyond the 19-day low close at 1.1344 today, while USDSEK is taking a look at its 19-day highs. We are also watching EURJPY on weaker risk appetite.
Head of Commodity Strategy, Saxo Bank Group
To download your copy of the Commitment of Traders: Forex report for the week ending August 21, click here.
To download your copy of the Commitment of Traders: Financials report for the week ending August 21, click here.
Despite some emerging signs of consolidation speculators nevertheless increased their bullish dollar bets against nine IMM currency futures by a net 8,000 lots, or $0.3bn, to $24.5bn in the week to August 21. This was the week where the dollar retraced some of its recent gains after President Trump went on the attack against Federal Reserve chair Jerome Powell for raising rates and thereby supporting the stronger dollar.