The greenback continues to slip ahead of the US open
EUR/USD is taking a peek above the key trendline resistance at 1.1179 and is flirting with a move back above the 1.1200 level as we approach the North American trading session.
The dollar continues to stay weaker as we see a further erosion in Treasury yields on the day with 10-year yields falling by 9 bps to 0.960% currently. Fed funds futures are also increasingly pricing in a 50 bps rate cut by the Fed, contributing to the dollar fall.
As the dollar slips, cable is trading firmly back above the 1.2900 level with USD/CHF also falling to its lowest level since March 2018 in a drop to 0.9513 currently.
Meanwhile, USD/JPY is continuing to stay pressured under 107.00 at 106.85 at the moment.
The only two currencies failing to find any reprieve against the dollar are the aussie and loonie - both who also saw their respective central banks cut rates this week.
