The U.S. dollar was firmer across the board vs. the majors as risk aversion carries over to Friday. The euro is coming under pressure and making new lows vs. the dollar after peaking on Aug. 6 and has now broken the minimal retracement target of the single currency's June-August rally around 1.2780. We now target the 50% level around 1.26, but it is finding modest support around 1.27.
The U.S. dollar was firmer across the board vs. the majors as risk aversion carries over to Friday. The euro is coming under pressure and making new lows vs. the dollar after peaking on Aug. 6 and has now broken the minimal retracement target of the single currency's June-August rally around 1.2780. We now target the 50% level around 1.26, but it is finding modest support around 1.27.
