USD strikes back – KBC

FXStreet (Barcelona) - The KBC Market Research Desk notes that the USD striked back to test the top intraday after yesterday’s soft performance against both Euro and the Yen.

Key Quotes

“Yesterday, the dollar declined against the euro and the yen even as news flow from Japan and the EMU was quite disappointing. A rebound of the oil price and a decline of USD/JPY weighed on the dollar overall. Today, intraday fortunes changed in favour of the dollar. There were no market relevant eco data to guide USD trading, but the rebound of oil slowed and interest rate differentials moved slightly in favour of the greenback.”