Dollar slips to start the session as risk sentiment picks up

<p>The greenback is losing some ground ahead of the European market open as risk sentiment is on the up while bond yields are also sitting lower today. USD/JPY is down 0.4% to 147.75 at the lows for the day, though still holding just above its 100-day moving average of 147.51 currently:</p><p>That remains the key technical level to watch for the pair amid the pushing and pulling this week.</p><p>Elsewhere, EUR/USD is up 0.2% to 1.0875 and USD/CHF down 0.3% to 0.8678 at the moment. Looking over to the commodity currencies, NZD/USD is up 0.2% to 0.6113 while AUD/USD is up just 0.1% to 0.6585. The latter might see more limited movement despite the enthusiasm as there are large option expiries in play as highlighted <a href="https://www.forexlive.com/Orders/fx-option-expiries-for-24-january-10am-new-york-cut-20240124/" target="_blank" rel="follow">here</a>.</p><p>The moves are coming as equities stay buoyed ahead of European trading, following China's RRR cut announcement <a href="https://www.forexlive.com/centralbank/pboc-to-cut-reserve-requirement-ratio-from-5-february-20240124/" target="_blank" rel="follow">here</a>.</p>

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