FXstreet.com (Barcelona) - The Dollar is rallying across the board, trimming last weeks losses against Euro Yen and Pound, following a surprise rate hike by the Popular Bank of China, which aised the one-year lending and deposit rates by 25 basis points each.
EUR/USD retreat from 1.4155 high on Friday has extended below 1.3880 session low to test 1.3830 support, while the GBP/USD decline from 1.6100 has extended below 1.5750 support level, and the USD/JPY upmove from 81.15 low has extended to 81.65 resistance level.
Furthermore, the AUD/USD has dropped about 100 pips, extending rejection at 0.9900 to one-week low at 0.9775. USD/CHF has risen almost 100 pips higher, extending recovery from 0.9575 session low to a fresh one week high at 0.9685.
