The dollar is on the back foot once again today
The dollar is weaker across the board as markets continue to keep up the post-FOMC flows ahead of the weekend. Notably, the kiwi is leading gains but NZD/USD continues to rest just above 0.6400 after a bit of a shaky performance yesterday.
The risk mood got a bit of a setback overnight following some US-China trade pessimism, but things are looking more steady for the time being.
USD/JPY continues to hug the 108.00 handle after the yen surged higher in trading yesterday, with price action likely to stay supported near the figure level ahead of the US non-farm payrolls release later in the day.
Option expiries will also be a key factor to watch out for today as they may limit price action during the session ahead. Large chunks are seen in EUR/USD between 1.1150 and 1.1200, GBP/USD at 1.2950, and AUD/USD at the 0.6900 level.
Looking ahead, the market focus should switch towards the jobs data as the next clue for dollar flows. At the same time, be wary of more trade headlines that could potentially affect the risk mood during the day.
