Forex
Dollar Rallies Across Majors as Interest Rate Differentials Take Hold
The US dollar has regained its strength across various major currency pairs, including EUR/USD, USD/CAD, and USD/CHF.
EUR/USD is trading around $1.14856 after rebounding from the $1.140 area but remains below its 200-day EMA at $1.15583.
The euro's pullback has led to a test of the 50-day EMA, and a break below this level could send the market down to $1.14, a psychologically significant figure that has provided strong support recently.
USD/CAD is trading around $1.40487 after easing from its high of $1.425 but holding above its 50-day EMA at $1.40338.
A break above the current resistance could challenge the $1.4150 level, and interest rate differentials favor the US dollar in this market.