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EURUSD: Intraday Analysis & Forecast

Major currencies are trading within familiar and relatively narrow trading ranges with no clear-cut direction, analysts at UniCredit Research say in a note. The DXY dollar index is flat at 104.120 while EUR/USD is flat at 1.0780 and GBP/USD edges up 0.1% to 1.2630. “Range-bound activity is…set to prevail again in the absence of news from the European Central Bank members speaking today and a break of key levels on charts.” The yen risks further weakness, however, the analysts say. The Japanese currency steadies against the dollar after significant losses on Thursday after comments by Bank of Japan deputy governor Shinichi Uchida on the prospect of slow monetary tigthening. USD/JPY rises 0.1% to 149.515.

 

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