The US Dollar (USD) continued its upward trajectory, hitting multi-day highs and surpassing the critical 200-day simple moving average (SMA). This recovery comes despite a decline in US Treasury yields and increased caution in the market as traders await the Nonfarm Payrolls (NFP) data set to be released on Thursday. The current exchange rate dynamics suggest a strengthening USD, which may influence trading strategies leading into the NFP announcement.
As the focus shifts to the US labor market, analysts are closely monitoring how employment figures will impact the USD's momentum against other currencies, particularly the Euro (EUR). The potential for significant movement in the USD/EUR currency pair remains high, as investors assess the implications of the labor market data on future Federal Reserve policy decisions. The PBoC is anticipated to maintain its current stance, which adds another layer of complexity to the forex landscape.
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Data Source: FX Killer Analysis Team Updated: 2025-11-19 20:18
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.