A weakening USD continues to trade on a soft note half way through the Asian session, and is unable to move away from daily lows. Around 00GMT an aggressive move to the upside on the EUR/USD was the catalyst causing the strong sell-off in the American currency, down against all its competitors.
Despite not escaping from lows, the market has failed to make new pushes, with majors trading in narrow margin near highs over the past 2 hours. EUR/USD quotes 1.3240, just a few pips away from making new highs for the day, GBP/USD sits at 1.5470, USD/CHF eased its downward pace at 0.9550, while AUD/USD holds a firm footing at 1.0070, underpinned by gold, which jut hit a new high at $1,390/oz.
A special mention deserve USD/JPY, only pair capable of injecting further damage to the USD since the early sell-off; price just touched 82.50, area of support. The pair shed 30 pips in today's Asian session so far, which represents a 0.36% fall from its previous close, and is well on track to post its 9th straight day in the red.
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