The dollar lower european trade theme held on Friday morning, with the greenback slipping despite mixed moves across wider markets.
USD/JPY fell 0.2% to 159.13. Even so, the pair stayed near the 159.00 mark and remained on track to end the week about 0.8% higher. Meanwhile, EUR/USD rose 0.2% to 1.1553 and stood flat for the week.
The euro also stayed close to its 100-day moving average. However, it remained below that level, with buyers still lacking a clear trigger for a technical break. GBP/USD added 0.3% to 1.3520, while AUD/USD gained 0.2% to 0.7070.
Dollar Lower European Trade Across Majors
Those moves showed a mixed weekly picture for major currencies. High beta currencies looked set to finish the week slightly firmer against the dollar. However, the gains were modest.
The source article said Wednesday’s US CPI report did not give traders firm conviction. As a result, the market lacked a clear catalyst in the final stretch of the week. That left the dollar softer on the day even without a major driver.
Mixed Signals in Broader Markets
Outside foreign exchange, other assets also sent mixed signals. WTI crude rose 1.2% to $82.25. Meanwhile, the US 10-year yield climbed 2 basis points to 4.66%.
Despite higher yields, the dollar moved lower. Therefore, the broader market backdrop did not offer a consistent direction into the week’s end. European stock indices traded in mixed fashion, while US futures were subdued.
That followed a stronger Wall Street session on Thursday, when the S&P 500 closed at a record high. Even so, S&P 500 futures were up only 0.1% and Nasdaq futures gained 0.2% early in the day.
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Source: InvestingLive
