CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD and GBP/USD move up as USD/JPY drops back

A weaker dollar continues to lift EUR/USD and GBP/USD while putting USD/JPY on the back foot.

EUR/USD renews its upward move

EUR/USD continues to hold above $1.22 and is still on an upward path.

It recovered from Friday’s losses, below $1.215, that seemed to point towards a renewed downward move. With this bounce, buyers are firmly in charge once again. Above $1.225, the $1.235 area comes into view.

GBP/USD eyes new three-year highs

The smooth move higher with GBP/USD continues, as the price returns to its late-February peak.

A breakout to new three-year highs seems likely as it targets $1.4345 and the early-2018 highs. Sellers have certainly lost control of the market, and so far there is little sign of a renewed move lower that could put a dent in the gains made since late April.

USD/JPY turns lower again

While USD/JPY was able to reach ¥110.00, bullish momentum has since faded and a drop back towards ¥108.50 now looks possible.

A recovery back above ¥110.00 puts the buyers in charge, and would mark a resumption of gains towards ¥110.35 and higher.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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