Creeping dollar strength has been the main theme of the week so far, with the dollar index (DXY) poised to move to levels last seen in 12th February of this year. Indeed, only 6 of the past 20 sessions on this dollar metric have seen the dollar decline. Never forget that the euro weight is more than half of the index, so this has accounted for much of the weakness, but the Kiwi, and Swiss franc has suffered more vs. the US dollar over this time, so it’s not just a euro story. This morning, USDJPY catches the eye as it pushes a 1-month high, increasing the potential that it pushes out of the range that has dominated for the past near two months. The other interesting moves are seen on AUDNZD, which has broken above the 1.10 level for the first time since mid-December and above the 200 day moving average mentioned yesterday. We’re also seeing EURJPY recover back towards 140.00 on the weaker tone to the yen and once again moving away from key moving average support currently at 138.50. FX volatility remains on the low side, but these movements suggest potential for some more interesting break-outs to occur. We can’t forget that the ECB meeting is looming ever large tomorrow with US jobs data on Friday. As such, markets will retain a sense of anticipation today ahead of these two risk events, but the overnight moves suggest more may be forced into the market to adjust positions as a result. Finally, note that the Bank of Canada announces its latest interest rate decision today. The tone of the statement will likely be unchanged from last time, especially after the weaker GDP data last week. CAD continues to push towards the 1.10 level. Further reading: ECB Preview: Going negative and beyond – 6 options for Draghi Soft Inflation Warns of Imminent ECB Action FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next AUD/USD unable to rise as strong growth is unbalanced Yohay Elam 8 years Creeping dollar strength has been the main theme of the week so far, with the dollar index (DXY) poised to move to levels last seen in 12th February of this year. Indeed, only 6 of the past 20 sessions on this dollar metric have seen the dollar decline. Never forget that the euro weight is more than half of the index, so this has accounted for much of the weakness, but the Kiwi, and Swiss franc has suffered more vs. the US dollar over this time, so it's not just a euro story. This morning, USDJPY catches the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.