The dollar’s decline continues in European morning trade, with EUR/USD now up 0.5% to 1.0976 while GBP/USD is also up 0.5% to 1.2436 on the current day. The latter is in focus as price rises to test its 200-hour moving average:
GBP/USD hourly chart
The pound rebounded further after the hot wages data earlier here, prompting markets to hike the interest rate by another 25 basis points for the Bank of England at the next policy meeting.
Besides, the greenback is seen weaker across the board, with USD/JPY also down 0.2% to 134.20 while AUD/USD holds gains, up 0.5% to 0.6735 and NZD/USD also up 0.4 % to 0.6205 currently.
The overall risk mood is tilting more positively now with European indices holding on to slight gains, while US futures also rose during the session. S&P 500 futures are now up 0.2%, Nasdaq futures are up 0.4%, and Dow futures are up 0.1% on the day.