The opening week of the year is seeing a flux in trading sentiment for major currencies, with the dollar push and pull being among the notable moves so far. The greenback is sitting higher again today, pushing a slight advance in European trading with USD/JPY moving up from 132.25 to 132.90 as buyers look to try and build on the bounce from daily support at 130.00 on the week:
There is scope for the rebound to extend, with the 29 December high seen at 134.50 before potentially looking towards 135.00 and then the 200-day moving average (blue line) at 136.39 currently.
The euro and franc are the only two currencies holding their own against the dollar, keeping little changed. Meanwhile, GBP/USD is down 0.4% to knock on the door of the 1.2000 level again while commodity currencies are paring back some of the gains from yesterday.
USD/CAD is up 0.3% to 1.3520, just moving off its 100-day moving average at 1.3468, while AUD/USD is down 0.5% to near 0.6800 upon a rejection of its own 200-day moving average:
