The dollar is recovering ground across the board

In turn, the bids in the dollar is pushing EUR/USD to fresh lows since 18 February as the Friday lows give way and that puts some pressure on support closer to 1.2023.

EUR/USD H1 03-01

Just take note that the 100-day moving average in the pair comes in at 1.2029 and that will be a key spot to watch in case sellers push the agenda this week.

Elsewhere, the dollar has also trimmed losses against the pound as cable falls to 1.3940 levels from near 1.4000 earlier while USD/CAD is back up to 1.2700 from 1.2675 earlier.

AUD/USD has also retreated slightly to 0.7740 from 0.7770 and NZD/USD is down to 0.7260 from the highs of 0.7290 at the tail end of Asian trading.

USD/JPY remains more constricted around 106.50-60 with large expiries in play today.