USD

We maintain the view that EUR/USD will struggle to regain the directional uptrend that was in evidence for much of last year

This month the DXY dollar index has traded at its highest levels since last spring, which begs the question of whether the greenback has entered into a cyclical upswing.

Exclusive USD - haven or currency of choice?

Over the past few months, the USD has been driven both by safe haven flows and by a change in market expectations regarding Fed policy.

Exclusive USD - hope?

The DXY dollar index is trading this morning well above its spring low and EUR/USD has already slipped back from the day’s best levels.

Exclusive EUR/USD new phase?

EUR/USD may be in danger of trading in a more lacklustre fashion compared with 2025.

Exclusive EUR/USD - range?

EUR/USD traded with a slight upside bias through the last week or so of May and is currently positioned just below the 50-, 100- and 200-day smas.