The Dollar is still feeling the pain of the dovish statement made by the Fed officials yesterday. EUR/USD is slowly climbing back up while the confusion in the market continues from China. The Yen is still showing strength as USD/JPY sits around 117’s area which proves investors are still worried. One thing that can turn this Dollar around and perhaps break through new highs is if we get a spectacular jobs report tomorrow, however, the opposite effect can occur if the report comes out horrendous.
One pair I’m still holding onto is long GBP/USD. The pound has been falling hard since the new year and reached a nice support. With the weakness in the Dollar, I’m hoping for a bounce.