Dollar firms to start the new week

<p>There is no particular headline driving the move but at the same time, risk appetite looks to be sapped after a mildly positive open earlier. European indices are now down around 0.1% to 0.3% with bond yields sitting a little higher on the day. The early flows are translating to a positive start for the dollar, gaining across the major currencies board.</p><p>USD/JPY is up 0.6% to 145.75 and is pushing back towards a test of the 50.0 Fib retracement level of the swing lower from November to December, seen at 146.07.</p><p>Elsewhere, GBP/USD is down 0.3% to 1.2715 at the lows for the day while USD/CAD is also up 0.1% to 1.3420 from around 1.3390 earlier. The antipodeans are also struggling with AUD/USD down 0.4% to 0.6655 and NZD/USD down 0.9% to 0.6185. The latter is threatening a steeper technical drop as highlighted earlier <a href="https://www.forexlive.com/news/nzdusd-threatens-bigger-drop-on-break-of-recent-consolidation-20240115/" target="_blank" rel="follow">here</a>.</p>

This article was written by Justin Low at www.forexlive.com.