New highs for the USD, but the ranges vs majors are limited

<p>The USD is making new highs versus a number of the major currencies including the:</p><ul><li>EUR</li><li>GBP</li><li>JPY</li></ul><p>The USD is near highs versus the CAD, AUD and NZD.</p><p>The greenback is only lower versus the CHF (by -0.02%).</p><p>Although the dollar is higher don't get too excited. Looking at the trading ranges for the major currencies versus their 22 day average (around a month of trading), the ranges are below the averages with the EURUSD range only 44% of what is normal, the AUDUSD only 56% and the NZDUSD only 61%. So price action is somewhat limited. </p><p>US yields are a catalyst for the greenback's rise after last week's declines:</p><ul><li>2 year 4.942%, +11.1 basis points</li><li>5 year 4.608% +12.1 basis points</li><li>10 year 4.661% +10.4 basis points</li><li>30 year 4.829% +7.7 basis points</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.