The greenback continues to ease as the Fed launches unlimited QE
The dollar is down to session lows as it is seeing over 1% losses across most major currencies, with EUR/USD rising to 1.0866 from just under 1.0800 earlier.
Meanwhile, AUD/USD is posting over 2% gains now and is looking towards testing the 0.6000 level. The pair is now back above the 100-hour moving average and is testing resistance around 0.5964-85 with the 200-hour moving average close by at 0.5991.
The greenback is lower across the board as the market continues to digest the Fed measures yesterday, where the central bank announced that they will backstop the US economy and launched open-ended/unlimited QE as well.
Gold quickly gained on the back of the announcement, with the commodity also sitting over 1% higher against the dollar today despite the more positive risk mood.
Stocks are looking optimistic to start the day but just be mindful of European PMI data releases that may temper with the mood a little later on.
Additionally, Wall Street may have a different take on the current situation - if yesterday's mood is anything to go by - so just be wary that the current playbook may not necessarily play out so straightforward today.