ANALYSIS | Jan 02, 09:41 GMT
Forex: USD Under Pressure into the New Year
Team FxPro Team FxPro
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US Dollar weakened further in the first few trading hours of 2018, slipping against most of the other majors, with the exception of the Japanese Yen. Japanese markets do not reopen until Thursday and therefore USDJPY is in a tight range presently. Switzerland is also on a bank holiday today, reopening tomorrow. Caixin Manufacturing PMI (Dec) was out earlier, with a reading of 51.7 v 50.6 expected, from 50.8 prior. The USDCNH pair has been in decline since hitting a low of 6.48953 but is currently off the lows to trade at 6.51463, down -0.40%. With USD under pressure, Commodities are trading higher this morning with Silver up 0.60% to 17.020.
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