CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/USD and GBP/USD climb as USD/JPY falls back

Further dollar weakness has allowed EUR/USD and GBP/USD to move up while USD/JPY has fallen back once more.

EUR/USD held around $1.22

EUR/USD has been stuck around $1.22 for five sessions now, including today’s, but this looks more like consolidation ahead of a fresh push higher rather than the end of the bounce from late March.

Further gains head towards $1.235, once the $1.22 zone is cleared.

GBP/USD holds close to 2021 highs

Friday saw GBP/USD return to the peak from late January at $1.424, although it was unable to hold those highs.

Nonetheless, the bullish view continues to hold sway, with a breakout to a new one-year high expected, unless sellers can gain a temporary advantage and push the price back towards $1.40.

USD/JPY heads lower

After a small bounce on Friday, USD/JPY is slipping lower once again, retreating from trendline resistance and threatening a bigger move below ¥108.50.

The repeated failure earlier in the month to hold above ¥109.50 handed the initiative to the sellers, and buyers will need to recover ¥109.50 at the least to restore a more favourable outlook for them.


This information has been prepared by IG, a trading name of IG Markets 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.