The currency most worth paying attention to on the day is gold – which, while still just shy of the recent intraday cycle highs versus the US dollar and well shy of the 2011 high water mark, has been breaking to new all time highs elsewhere lately, against the JPY and EUR, for example, just to name two prominent examples.
Today’s Breakout Highlight: XAUUSD
Gold is on the move today as spot gold versus the US dollar trades close to 1600 dollars again while the precious metals has reached new all-time highs against other currencies recently, including against the EUR and JPY today. While the pair is shy of the intraday high posted over the Iran-US hostilities that broke out at the very beginning of the year, it hasn’t closed as high as the current level as of the below snapshot in nearly 7 years (early 2013) and looks ready for more here on a strong close.