EUR/USD moves above 1.2000 for the first time since early March
It is the first time since 4 March that EUR/USD has climbed above 1.2000 and the break higher here comes as the dollar is seen offered across the board in European trading.
USD/JPY has also fallen below support @ 108.34-41 to fall to 108.21 - its lowest level since 5 March as the greenback slides. There's not much of a catalyst as this looks to be more technical and flow driven if anything else.
Going back to EUR/USD, the pair has been knocking on the door of 1.2000 since last week and the lack of meaningful expiries at the figure level was perhaps already a sign that buyers will face less resistance in trading this week.
This now puts the focus on the 100-day moving average (red line) @ 1.2051 but if that gives way, the upside could be targeting 1.2200 here for the pair.
