ForexLive European FX news wrap: Dollar rout hits pause for now

<p>Dollar technicals:</p><ul><li><a href="https://www.forexlive.com/news/a-bit-of-a-breather-so-far-today-20230714/">A bit of a breather so far today</a></li><li><a href="https://www.forexlive.com/news/its-been-an-exceptional-week-for-the-euro-and-pound-against-the-dollar-20230714/">It's been an exceptional week for the euro and pound against the dollar</a></li><li><a href="https://www.forexlive.com/news/usdchf-has-got-that-old-saying-in-markets-written-on-it-20230714/">USD/CHF has got that old saying in markets written on it</a></li><li><a href="https://www.forexlive.com/news/audusd-upside-push-stalls-at-the-june-highs-at-least-for-now-20230714/">AUD/USD upside push stalls at the June highs, at least for now</a></li></ul><p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/us-announces-to-automatically-forgive-39-billion-in-student-debt-20230714/">US announces to automatically forgive $39 billion in student debt</a></li><li><a href="https://www.forexlive.com/news/china-invites-global-investors-for-rare-symposium-next-week-report-20230714/">China invites global investors for rare symposium next week – report</a></li><li><a href="https://www.forexlive.com/centralbank/boj-announces-to-host-first-discussion-on-long-term-policy-review-in-december-20230714/">BOJ announces to host first discussion on long-term policy review in December</a></li><li><a href="https://www.forexlive.com/news/eurozone-may-trade-balance-03-billion-vs-117-billion-prior-20230714/">Eurozone May trade balance -€0.3 billion vs -€11.7 billion prior</a></li><li><a href="https://www.forexlive.com/news/germany-june-wholesale-price-index-02-vs-11-mm-prior-20230714/">Germany June wholesale price index -0.2% vs -1.1% m/m prior</a></li><li><a href="https://www.forexlive.com/news/switzerland-june-producer-and-import-prices-00-vs-03-mm-prior-20230714/">Switzerland June producer and import prices 0.0% vs -0.3% m/m prior</a></li></ul><p>Markets:</p><ul><li>EUR leads, JPY lags on the day</li><li>European equities mixed; S&amp;P 500 futures up 0.1%</li><li>US 10-year yields up 0.7 bps to 3.765%</li><li>Gold down 0.1% to $1,958.60</li><li>WTI crude flat at $76.89</li></ul><p>It was a quieter session in Europe today as markets are taking a bit of a breather after all the hot and heavy action in the past two days.</p><p>The dollar slide is being arrested somewhat, at least for now, as we wait on Wall Street to step into the fray before the weekend comes along. EUR/USD was little changed throughout the session, keeping around 1.1220-30 levels mostly. GBP/USD is down 0.1% to 1.3120 while USD/CHF is flat at 0.8585 currently.</p><p>The Japanese yen was a decent mover on the day, with USD/JPY falling to a low of 137.25 in Asia before recovering some poise tohold around 138.40 on the day.</p><p>The overall risk mood is also calmer today, after the surging gains in tech stocks this week. That is keeping the aussie and kiwi in check as well with AUD/USD down 0.3% to 0.6870 and NZD/USD down 0.1% to 0.6385 at the moment.</p><p>Well, the technicals continue to look bleak for the dollar and given the recent momentum, it might just be a matter of time before we see a resumption of the dollar selling and risk buying.</p>

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