EUR/USD touches a session low of 1.1571
Selling against the dollar, swissie, and yen has kept the euro pinned down on the day with the market focusing on the risk-off tones as a result of the escalation in trade rhetoric between US and China.
Calm heads prevailed for most of last week, but today we're seeing risk-off tones rear its ugly head once again. Equities are down while bonds are rallying across the board and that is feeding into the currencies market as well.
Next up for EUR/USD is support and bids sitting in the 1.1560-65 region so that will be an area to look out for before last week's low of 1.1543 for added support.
Meanwhile, EUR/JPY is down by more than 1.1% on the day trading just under the 127.00 handle now. The next key support level for the pair will be the 50.0 retracement @ 126.18.
For today, it's all about risk sentiment so watch out for how US stocks and Treasuries perform later when US trading comes about. That will provide the next key indicator for how much this risk-off sentiment will carry through for the rest of the day.
