The dollar is mildly lower to start the new day but just be mindful about reading into the market moves today. My personal view is that one shouldn't read too much into any moves on a day like today.
For one, we're faced with thin liquidity amid bank holidays in Europe and the US. Adding to that is the preparation ahead of month-end trading tomorrow and on Wednesday, which could add more volatility into the mix.
In the overall picture, the dollar continues to sit in a good spot from last week's advance though. USD/JPY is down 20 pips on the day but is still keeping above 140.00 as buyers hold on to the upside break:
USD/JPY daily chart
Meanwhile, EUR/USD is sitting little changed around 1.0735 with GBP/USD also not much changed at 1.2350 at the moment. The commodity currencies are holding slight gains at least, with AUD/USD keeping a defense at 0.6500 still - now up 0.3% to 0.6535 while USD/CAD is down 0.2% to 1.3585 but still keeping the break from last week here.
That is perhaps helped by better risk sentiment after the US debt ceiling news over the weekend.
Looking across the board though, all the dollar charts from last week are still very much in play this week.
https://news.google.com/rss/articles/CBMiamh0dHBzOi8vd3d3LmZvcmV4bGl2ZS5jb20vbmV3cy9kb2xsYXItbWlsZGx5LWxvd2VyLWFzLXdlLWdldC1pbnRvLWhvbGlkYXktdGhpbi10cmFkaW5nLWluLWV1cm9wZS0yMDIzMDUyOS_SAW5odHRwczovL3d3dy5mb3JleGxpdmUuY29tL25ld3MvZG9sbGFyLW1pbGRseS1sb3dlci1hcy13ZS1nZXQtaW50by1ob2xpZGF5LXRoaW4tdHJhZGluZy1pbi1ldXJvcGUtMjAyMzA1MjkvYW1wLw?oc=5
2023-05-29 07:30:00Z
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