Technical Analysis
EUR/USD turned positive and hit a three-week high after briefly falling below the 200-day moving average on Monday.
EUR/USD experienced a volatile session, opening near 1.0825 in New York and swinging wildly between 1.0796 and 1.08415
GBP/USD traded up 0.05% within a narrow range of 1.2755-1.2767, showing a muted reaction to the election results.
EUR/USD rallied as the latest U.S. economic data suggested a potential softening, with the New York session opening near 1.0755 after trading at 1.0737 overnight .
USD/JPY climbed to a new 38-year peak on Tuesday, driven by higher U.S. bond yields, prompting official commentary.
The euro experienced a modest reprieve following the first round of the French election
GBP/USD steadied after the release of U.S. Personal Consumption Expenditures (PCE) data, which initially lifted the pound to a Friday high of 1.2670
The EUR/USD opened the New York session near 1.0705, briefly dipping to 1.0685 before climbing to 1.0724.
This intervention briefly caused USD/JPY to fall from 159.94 to 158.75.
EUR/USD bulls face a challenging environment as supportive data is crucial to counteract bearish technical signals.