And with selling in equities and bonds so far on the session, it might just be a matter of time before the bids start flowing into the dollar – like what we saw yesterday.
EUR/USD and GBP/USD are both up 0.1% to 1.0865 and 1.2720 respectively, showing little poise. Meanwhile, USD/CAD is up 0.1% to 1.3290 while AUD/USD is up 0.3% to 0.6670 currently. The changes aren’t hinting at much though, with USD/JPY perhaps being the most interesting pair so far today.
The pair is down 0.4% to 144.03 with the low earlier touching 143.56 and as mentioned at the start of the session, keep in mind that we do have large option expiries for the pair at 144.00 today.
Going back to general dollar sentiment, be mindful that if the selling in stocks intensifies, that should eventually lend itself to a bid or two in the greenback. So, watch out for that and also the US ISM services PMI later in the day.