EUR/USD continues to drift lower

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  • EUR/USD has been soft all session and now trades 0.24% lower.
  • The next support could be the psychological 1.10 handle.

 

The US dollar strength has been relentless today as gold and all of the FX majors have struggled against the greenback.

Just now there have been reports that Trump may not be willing to roll back tariffs on Chinese goods. 

US President Trump says he has not yet agreed to roll back tariffs on China; notes that China would like him to do so and China want him to make a trade deal

Despite this news, the dollar is surging and the dollar index is at a level not seen since 16th October. 

It seems that is there is good or bad trade news the dollar is rising. One side is protectionism the other is risk appetite.

EUR/USD is now 20 pips or so away from the psychological 1.10 level which could provide some relief.

EUR/USD Chart

EURUSD analysis

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